Spotify went public yesterday through a direct listing forgoing the initial public offering route. While the stock price crashed pretty damn hard, it has started to rebound a bit today. The Swedish company is officially the largest company of all time to go the direct listing route. While investors are still deciding whether or not they should dump money into another risky tech stock, the company CEO has his eyes set on the prize.
Inspired By The Robots
CEO, Daniel Ek posted a letter to Spotify's website which spoke at length about the decision of going public. He explained the sentiments behind the decision as well as the long-term goals of the company moving forward. He signed off the letter with a phrase every dance music lover will know. A timeless classic by Daft Punk: “Harder, better, faster, stronger.”
I think it is easy to see where Daniel's mind is moving forward. Let's hope the streaming giant has continued success as 2018 continues to unfold.