Watch: Spotify Files for IPO
The music streaming giant filed the paperwork with the Security and Exchange Commission on Wednesday. Registered under the symbol “SPOT,” shareholders will have the opportunity to sell shares for up to a billion dollars. In its filing, Spotify revealed some of its key data points, including 159 million monthly active users with 71 million paying for the premium subscription. The company made almost $5 billion in 2017, a large jump from $3.6 billion in 2016.
Here are some other interesting data points that were mentioned:
• Spotify currently employs 2,960 employees worldwide.
• In 2017, users streamed 11.4 billion hours of content.
• Premium subscribers listen to three times more music than those listening for free.
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