Maureen Farrell, Reporter at The Wall Street Journal, discusses Spotify's non-traditional approach to going public. The company will do a direct listing where three major banks will split a mere $30 million.
Farrell talks about the pros and cons of filing this way. Even though banks lose money with a filing like this, it gives more transparency to employees and investors when buying and selling shares of the company. Farrell also talks about the unprecedented nature of such a filing, noting that there are concerns about whether the direct listing will go smoothly. If the listing goes well, will other tech companies follow suit?
Pieter Vanerman, CEO of Spin, joined Cheddar News to discuss the ping-pong franchise, which has nine locations around the U.S. and two in New York City, and also dived into how the business operates, showed what's on the menu and what you can expect when you visit.
