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Spotify Officially Filed To Go Public On NYSE But Forgoes IPO To Avoid Initial Overvaluation

Going public and overvalued IPOs have been a long and hard dilemma for tech companies. Snapchat and Twitter both learned the hard ways as their incredibly overvalued IPOs started off with a boom and dropped quickly in the next weeks, still failing to recover. Both companies continue to struggle, many even posit that Snapchat could fold in 2018 after the huge flop of the introduction of hardware with the Spectacles.

See Also: Best Spotify Playlists

Spotify Prepares For Public Launch

Spotify has now officially filed to go public on the New York Stock Exchange, which means they are now the largest music streaming service to ever attempt a direct public listing. The company has over 60 million paying subscribers so it does not need more funding, hence it does not need to risk an the IPO route for trading on the exchange. Instead a direct listing will allow private investors to trade shares on a public exchange. A safer method of going public, even if the rewards stands as lower than the traditional IPO route.

Will Spotify's attempt to trade publicly succeed? Only time will tell.

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RelatedApple Music vs. Spotify vs. Amazon Music Unlimited: Which Is Best?

H/T: Bloomberg

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