Music Streaming Spotify Valued at $16 Billion in Private Trades
Music streaming company is valued at $16 billion and is expected to be public-floated with a valuation of at least $20 billion, according to Reuters (Private Sources). The private market for shares allow the employees & founders of tech startups such as Spotify, Airbnb and Uber to sell their shares for cash, instead of awaiting an exit or IPO.
” Spotify valued at $16 billion in Private Trades “
To-date, Spotify has more than 60 million subscribers, 140 million users, over 30 million songs and is available in 61 countries. It has also paid more than $5 billion to rights holders (the owners of the music). Spotify AB was founded in 2006 by Daniel Ek & Martin Lorentzon and officially launched in 2008.
Source: Reuters
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