Music Streaming Spotify Surged 13% at IPO on NYSE with $26 Billion Market Value

Music Streaming Spotify Surged 13% at IPO on NYSE with $26 Billion Market Value

Music streaming Spotify had surged 13% at IPO on the New York Stock Exchange (NYSE), at a reference IPO price of $132.  The stock closed at $149.01 on the 1st trading day, closing at  $147.92 at the end of the week, valuing the company at more than $26 billion.

“ Music Streaming Spotify Surged 13% at IPO on NYSE with $26 Billion Market Value “

Spotify opted for a direct listing on NYSE, bypassing investment banks or brokers to underwrite the offering, saving hundreds of millions of dollars in underwriting fees.  The reference price was set at $132, giving an early estimate of the level at which the the supply and demand could be balanced.  The opening public price was determined by the buy and sell orders collected by the NYSE from broker-dealers.

Spotify, founded by Daniel Ek and Martin Lorentzon, was launched in 2008 and is available in more than 60 countries.  It is the biggest music streaming company in the world with 71 million premium subscribers ($9.99 monthly) globally while Apple music streaming service has 36 million subscribers.

After the IPO, both founders Daniel Ek and Martin Lorentzon became billionaires with net worth of more than $2 billion & $1 billion respectively.

Sources: Reuters, CNBC, Bloomberg

 

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Music Streaming Spotify Files for Direct Listing on New York Stock Exchange 

Music Streaming Spotify Files for Direct Listing on New York Stock Exchange 

Music streaming service Spotify has filed for a direct listing (SPOT) on the New York Stock Exchange (NYSE).  Based on recent private transactions, the Swedish based company is valued around $15 – $20 billion.  The direct listing on NYSE will allow investors and employees to sell shares and will not be raising new capital or hiring an investment bank or broker to underwrite the offering.   A direct listing will save hundreds of millions of dollars in underwriting fees.

Spotify to be Listed on NYSE  “

Spotify was launched in 2008 and is available in more than 60 countries.  It is the biggest music streaming company in the world with 71 million premium subscribers ($9.99 monthly) globally while Apple music streaming service has 36 million subscribers.  Spotify has about 159 million monthly average users.

In 2017, the company generated 4.09 billion euros  in revenue and incur an operating loss of 378 million euros.  In 2016, the company raised $1 billion in convertible debt, which would convert to shares at IPO.  In December 2017, Tencent and Spotify announced they would buy minority stakes, helping increasing exposure to each other’s core markets.

Source: Reuters, CNBC, Mashable

 

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Music Streaming Spotify Valued at $16 Billion in Private Trades

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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Tencent Music Plans IPO in United States at More than $25 Billion Valuation

Tencent Music Plans IPO in United States at More than $25 Billion Valuation

Tencent Music, a business unit of China technology giant Tencent Holdings, is planning an IPO in the United States that is expected to value the music business at more than $25 billion.  The filing was made to the Hong Kong Stock Exchange (HKSE) on 8th July 2018, which will be spin-off from Tencent Holdings (listed on HKSE).

” Tencent Music Plans IPO in United States at More than $25 Billion Valuation “

Tencent Music Entertainment Group, is a leading online music entertainment platform in China and is a business subsidiary of spin-off from Tencent Holdings.  In December 2017, the world’s largest music streaming company Spotify, took a 9% equity stake in Tencent Music, and Tencent taking a 7.5% equity stake in Spotify.  In April 2018, Spotify went public in United States at more than $26 billion market value.  Spotify was founded by Daniel Ek and Martin Lorentzon and was launched in 2008 and is available in more than 60 countries.  It is the biggest music streaming company in the world with 71 million premium subscribers ($9.99 monthly) globally while Apple music streaming service has 36 million subscribers (April 2018).  After the IPO, both founders Daniel Ek and Martin Lorentzon became billionaires with net worth of more than $2 billion & $1 billion respectively.

Tencent was founded in Shenzhen, China in November 1998 by 5 founders, Ma Huateng (Pony Ma), Zhang Zhidong, Xu Chenye, Chen Yidan and Zeng Liqing.  It is one of the world’s largest technology company with a market value of more than $500 billion (July 2018) while Tencent CEO Ma Huateng (Pony Ma) is one of the world’s richest man with more than $40 billion personal net worth.

Tencent is a leading provider of Internet value added services in China.  It has more than 1.04 billion users on its social messaging platforms, Weixin and WeChat and 805 million users its QQ platform.  On June 16, 2004, Tencent Holdings Limited (SEHK 700) went public on the main board of the Hong Kong Stock Exchange.

Source: ReutersSCMPTencent FilingTWI

 

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