SPOTIFY'S DAILY MIX:
STOCK SWAPS AMPED
Spotify could float shares on the New York Stock Exchange as early as late March, according to a Wall St. Journal report, but they won’t be valued as high as Snap’s $20 billion IPO.
Recent trades among private investors put Spotify’s valuations at between $17b and $18b, and the company’s advisers—Goldman Sachs, Morgan Stanley and Allen & Co.—have been developing ways to stir up trading activity. The company has waived its right to buy shares before they're offered to others, for example, and put few restrictions on trading, the Journal reports.
When an investment bank tried to generate a sale that would value Spotify at $20b, no one was willing to pony up. That’s part of the risk at play here: Without a comparable direct listing, your guess is as good as ours about the opening price of shares.
The current valuation does reveal a continuing upward trend for the company, which started at a $7b valuation in late 2016 and had climbed to between $12b and $15b late last year.
THE MUSIC OF CLIVE COMES ALIVE AT CARNEGIE HALL
That's what friends are for. (5/1a)
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THE NEW UMG
Gosh, we hope there are more press releases.
TIKTOK BANNED!
Unless the Senate manages to make this whole thing go away, that is.
THE NEW HUGE COUNTRY ACT
No, not that one.
TRUMP'S CAMPAIGN PLAYLIST
Now 100% unlicensed!
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JAMES KING: THE HITS INTERVIEW (PART ONE)
