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Spotify Looks Like It Is Preparing For An IPO

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Cirullo - Il Fatto Digitale da Business Insider

Music streaming service Spotify appears to be preparing for an IPO, according to Reuters. The company posted a job listing that contained these requirements, Reuters said:

The job advertisement, posted on Spotify’s website and on LinkedIn, said the successful candidate – an “External Reporting Specialist” – would be required to “prepare the company for SEC filing standards. Set up all reports necessary to be SEC compliant”.

The candidate should also have “experience in preparing international financial reporting, including consolidated financial statements.”

CEO Daniel Ek had previously played down the idea of going public. But bankers observing the help-wanted ad said it looked as if Spotify was getting the necessary staff in place to handle filings with the SEC.

Spotify is valued at $7-8 billion, Reuters said, and it has raised $538 million from investors.

The company is believed to be unprofitable on gross revenues of around $720 million a year.

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Source: BusinessInsider.com

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