Breaking news

Tiger Global Among Top Spotify Holders With $1.9 Billion Stake


The business had about $700 million invested in Spotify before it went public through a direct listing, according to a person with knowledge of the matter.

The stock began trading at $US165.90 a share shortly after noon, resulting in a valuation of roughly $US30 billion.

Shares of Spotify debuted at $165.90 and teetered in the first hour of trading. Until Tuesday morning, there had been little insight into how the stock would perform once Spotify completed its IPO.

Chase Coleman's Tiger Global Management owns almost $2 billion of Spotify Technology SA, making it one of the biggest shareholders of the music-streaming company that started trading Tuesday. Interestingly enough, the NYSE set Spotify's reference price at $132, a figure which has the potential to fluctuate quite a bit once shares finally begin trading and buy and sell orders are aligned.

Читайте также: Cops believe SUV crash that killed family may have been intentional

Spotify is launching a direct initial public offering (IPO) in which it will sell stock under the ticker SPOT directly to investors instead, of going through an underwriter. It's the stock-trading equivalent of opening a store and hoping people will just stop in. However, it does give Spotify a currency it can use for acquisitions, and also allows the company to raise money by selling additional shares in the future. Apple Music, however, was growing at a much faster rate than Spotify: 5% versus 2%. Estimates for the price of the shares once they hit the public market were between $160 and $220, CNN reported. Spotify's filing came after losing $1.5 billion in 2017. In its filing to go public, Spotify noted that it had roughly twice the number of paying subscribers as its next closest rival, Apple (AAPL).

Explaining his decision to forego a headline-grabbing IPO Ek wrote on the company blog: "Normally, companies ring bells, Normally, companies spend their day doing interviews on the trading floor touting why their stock is a good investment". But what's even more important to me is that tomorrow does not become the most important day for Spotify. Looking ahead, Spotify recently claimed that its paid subscriber base may grow to upwards of 96 million users by the end of 2018.

The Guggenheim analyst summarized the likely investor debates about the stock this way: "It remains unclear if competitors can replicate the experience or leverage engineering and technology resources to develop a similar or superior offering".

При любом использовании материалов сайта и дочерних проектов, гиперссылка на обязательна.
«» 2007 - 2018 Copyright.
Автоматизированное извлечение информации сайта запрещено.

Код для вставки в блог

Related Articles

  • Prince Philip in hospital for planned hip surgery, Buckingham Palace says

    Prince Philip in hospital for planned hip surgery, Buckingham Palace says

    Prince Philip will undergo surgery after experiencing trouble with his hip , Buckingham Palace announced on Tuesday. The royal has suffered from several health issues in recent years, including a brief hospitalization last June.
    Rusty Staub, legendary original Expo and six-time all-star, dies at 73

    Rusty Staub, legendary original Expo and six-time all-star, dies at 73

    The entire Mets organization sends its deepest sympathy to his brother, Chuck and sisters Sue Tully and Sally Johnson. One of the best contact hitters of his time, Staub struck out just 888 times in 9,720 at-bats and drew 1,255 walks.
    Meghan Markle just dropped a big royal baby hint

    Meghan Markle just dropped a big royal baby hint

    His first period of frontline service in Afghanistan was served with the 1st Battalion, the Royal Gurkha Rifles in 2007-08. Meghan Markle and Prince Harry choose to go another route with their wedding cake than the traditional fruitcake.
  • Snapchat adds group video conferencing and friend tagging

    Snapchat adds group video conferencing and friend tagging

    Most famously, Instagram took, name and all, Snapchat's Stories, the 24-hour video diaries that disappear at the end of the day. Share Snapchat Stories with anyone: Users can now share Snapchat stories with anyone, regardless of whether they have the app.
    Local Business Owner Hosts Annual Easter Egg Hunt

    Local Business Owner Hosts Annual Easter Egg Hunt

    His son, 16-month-old Dashiell Maranville, was born with two congenital heart defects. "I liked making the eggs". The operations manager of the asylum, Rebecca Gleason, said this event is all about the community.
    The Trumps (Vanessa, too) gather for White House Easter egg roll

    The Trumps (Vanessa, too) gather for White House Easter egg roll

    Trump specifically invited Putin to the White House during the call, Putin aide Yuri Ushakov told Russian news agencies yesterday. The talks were in preparation for Trump's meeting with Putin which took place at the Group of 20 summit in Hamburg in July 2017.
  • Why Conor McGregor Wasn't Asked To Replace Tony Ferguson At UFC 223

    The California-born fighter was due to take on Khabib Nurmagomedov in a lightweight title fight at UFC 223 in Brooklyn on 7 April. White told ESPN: "He actually tore it off the bone, he's gonna need surgery on his knee.
    Tottenham boss Pochettino: I can understand Martinez concerns for Alderweireld

    Tottenham boss Pochettino: I can understand Martinez concerns for Alderweireld

    Mauricio Pochettino has warned Toby Alderweireld his World Cup ambitions will have no bearing on his Tottenham spot this season. Pochettino is likely to go for the more tactically disciplined Erik Lamela , or even Moussa Sissoko, rather than Lucas Moura.
    Disgraced Aussie cricketers handed bans, also barred from IPL 2018

    Disgraced Aussie cricketers handed bans, also barred from IPL 2018

    Both Smith and Warner could be key to Australia's defence of the trophy. It's an exciting opportunity with a talented bunch of players.
  • Erdogan, Putin break ground for nuclear power plant

    Erdogan, Putin break ground for nuclear power plant

    Putin said it was chose to expedite the deliveries of S-400 missile defense systems to Turkey . Turkish-Russian relations have been increasingly well.
    Liverpool ace Salah sets sights on elite status

    Liverpool ace Salah sets sights on elite status

    We're not just trying to sell players", Pallotta said during an interview with Sirius XM radio on Wednesday. Salah has 36 goals in 41 games in all competitions, while Ronaldo has scored 37 in 35 and Messi 35 in 43.
    Ant and Dec star's public support DROPS amid drink-drive charge

    Ant and Dec star's public support DROPS amid drink-drive charge

    But the final, already recorded episodes of Saturday Knight Takeaway will be screened with Ant appearing in them, The Sun reports. The message was posted on the antanddecofficial Instagram page, which Dec shares with his presenting partner Ant McPartlin .

Comments