One early Spotify investor is happy that the company’s stock didn’t surge when it started trading on the market Tuesday.
“If we had totally exploded, I don’t think that would have been good,” said Pär-Jörgen Pärson, partner at European venture capital firm Northzone, a Spotify investor since 2008.
“It would be hard to grow into that valuation over time. I think it’s better to have a gradual convergence of what the market expects and what you deliver as a company.”
Investors and experts forecasted major market volatility as a result of Spotify’s unusual direct listing. But the music streaming company’s public debut went off smoother than expected, and despite pulling back from from the opening trades, shares remain well above the reference price of $132 a share.
Reports emerged Thursday that only about five percent of the total number of Spotify shares that were eligible for the listing were actually sold and traded.
That may be because investors aren’t ready to part ways with their shares as they’ve “grown to really like and appreciate the destructive nature of the company,” said Pärson.
Spotify shares ended Thursday at almost $144.
The highly-anticipated trailer for Grand Theft Auto VI is out earlier than expected.
AT&T announced a new partnership with Swedish communications company Ericsson.
Hackers accessed the personal data of 6.9 million users via the genetic testing company 23andMe.
Stocks fell after the opening bell on Tuesday morning as signs pointed to another losing session.
Bitcoin is once again having a moment. On Monday, the world's largest cryptocurrency soared past $41,000 for the first time in over a year and a half — and marking a 150% rise so far this year.
Tree farmers are raising prices for Christmas trees.
Analysis shows smaller businesses are hiring more people.
Applying for financial aid for college is a long process but there's a new streamlined application for federal student aid. Mark Kantrowitz, student loan expert, joined Cheddar News to explain the FAFSA form and what kind of changes are expected.
With all of the stress surrounding the holiday season with gift-buying and planning family gatherings, it could be a chaotic time for all members of your family, including pets. Cesar Milan and Michael Ehrman, co-founders of Halo Collar, joined Cheddar News to provide tips on how to keep your pets stress-free for the upcoming holiday season.
Going home for the holidays can be pretty expensive, especially if you're a student. Cheddar News senior reporter Michelle Castillo provided tips on how to save ahead of the holiday season.
