This Early Spotify Investor Isn't Concerned Shares Have Pulled Back
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.
Tobias Bauer, CEO & President of Rolling Stock at Siemens Mobility North America, shares insights on a $220M investment reshaping U.S. rail infrastructure.
Kory Kantenga from LinkedIn unpacks how the US added nearly 3x the expected jobs in March, and whether it can last as the Iran war reshapes the economy.
U.S. Air Force pilot Tyler Lucas beat 199 competitors on Beast Games Season 2 to win $5.1M. He joins us live to share how discipline and loyalty won the game.
Osier founder Cheree Ashley spent a decade building recovery programs & now she's channeling that mission into skincare with Selling Sunset's Sandra Vergara.
Genesis just committed to 22 new vehicles by 2030. The brand's COO joins us live to break down their luxury takeover, NY Auto Show reveals, and what's next.
Super League is redefining brand advertising, inside Roblox and Minecraft, reaching 300M gamers with results traditional ads can't touch. Here's how they do it.
