Loss-making Spotify looks for a turnaround through IPO | AlphaStreet
It is a rarity in the financial markets that a company goes public after it climbs the growth ladder high enough to become the market leader. The IPO filed by music streaming giant Spotify Technology on Wednesday stands out for multiple reasons - from the exclusion of underwriters to lack of lock-up period. The Swedish firm, which is in the business for nearly a decade, has been registering losses continuously, despite being the world's largest music streaming service with a mammoth subscriber base that is growing at the rate of about 50% annually. The company cited its weak finances and mounting competition from the likes of Google and Apple...