Is Spotify Prepping For An IPO This Fall?
March 28, 2014 at 3:56 AM (PT)
Tongues are wagging that webcaster SPOTIFY is prepping to take itself public in the FALL of 2014.
QUARTZ.COM reports, "The popular music-streaming company has participated in informal chats with some of the investment banks likely to fight for a role in a potential IPO, sources familiar with the process said. The six-year-old service may start holding formal meetings as early as next month in anticipation of an offering in AUTUMN."
The report notes that SPOTIFY has made several moves recently that are indicators of a company preparing for an IPO. "It acquired the company behind the algorithms SPOTIFY uses to power its personalized radio service. It also obtained a $200 million credit line from lenders, among them MORGAN STANLEY, DEUTSCHE BANK and GOLDMAN SACHS earlier this month."