"For us, going public has never been about the pomp or circumstance of it all", CEO Daniel Ek told the crowd gathered for the investor-day event or listening via live stream. The company plans to release additional investor guidance on March 26, according to Variety, which attended the lengthy presentation.
Sony is the biggest industry shareholder with a 5.7% holding in Spotify. Its listing will likely be coveted by investors who are seeking high growth that often comes with big-name, highly valued technology IPOs, which have been rare of late.
Spotify's CEO and Chairman, Daniel Ek, gave a live presentation to investors and would-be investors in NY. In a normal IPO, such meetings are reserved for fund managers and other big Wall Street investors.
The Stockholm-based company's stock will be available to investors via an unusual direct listing without traditional underwriters. They said Spotify doesn't need the money, but they want to give existing shareholders the opportunity to easily sell shares on a public, liquid exchange.
France Targets Apple and Google for 'Abusive Commercial Practices'
Bruno Le Maire expected the Paris commercial court to impose sanctions that would likely cost Google and Apple millions of euros. The findings of a similar probe into Amazon.com Inc. previous year are being reviewed by a tribunal, Le Maire's office said.
During the meeting, Vogel confirmed that Spotify will publicly list shares on the NYSE via direct listing on April 3rd.
Spotify's current valuation is now above $20bn, according to some recent private share trades between investors in the company.
Spotify is aiming for offerings that drive usage and sign-ups, such as timed exclusives and albums with unique video components.
Unusually, the company is not issuing new shares as in a traditional IPO.
Monster Hunter World Upcoming Weapon Changes Listed, Watch Deviljho Take on Bazelgeuse
Look forward to celebrating the Spring Blossom Festival that will run from April 5 to April 18 with hunters around the world . Every player will get one voucher for free on 22nd March, and further vouchers will be available to purchase at a later date.
He pointed out that Spotify has more than twice as many paying users as its nearest rival, Apple, and that its strategy is to be an ubiquitous music service across phones, smart speakers and desktops from various makers.
"Something for nothing. It's the greatest value proposition in the history of the world", said Gustav Söderström, Spotify's head of research and development.
Now the company boasts over 159 million monthly active users and 71 million premium subscribers, and is valued at nearly $20 billion. It also has 92 million users of its free, advertising-supported service, which acts to recruit new users to its premium, paid offering.
Claire Foy paid less than co-star on "The Crown"
However, critics say this could only explain the first season - before Foy won a host of awards and nominations for the role. She added that many women don't realise how much men get paid, and this may explain the imbalance on The Crown .