Deezer Plans I.P.O.
September 23, 2015 at 3:57 AM (PT)
Webcaster DEEZER has filed for an initial public offering as it plans to take on global rivals like PANDORA, SPOTIFY and APPLE. THE NEW YORK TIMES reports, "DEEZER, which plans to list its shares in PARIS, did not disclose how much capital it would seek through its stock offering. Industry talk, though, indicates the company has been looking for new investment that would value it at around 1 billion euros, or $1.1 billion."
The French company claims about six million paying subscribers in 180 countries. It is not yet available in the U.S., but is planning an American launch soon.
CEO HANS-HOLGER ALBRECHT said, “DEEZER has a very unique position in terms of geographical footprint and partnerships with telcos,” adding the I.P.O., “is all about scaling up.”