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Spotify could be eyeing fall IPO

Jonathan Nackstrand | AFP | Getty Images

The music-streaming service Spotify may file for an IPO in the fall, Quartz reported Thursday.

Citing informal conversations between the company and investment banks, Quartz said Spotify has taken many other steps in line with a public offering, although the firm declined to comment to the site.

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The preparatory moves include acquiring its algorithm provider and obtaining a $200 million credit line from major lenders such as Morgan Stanley and Goldman Sachs, Quartz reported.

In February, Reuters reported that the Sweden-based Spotify had posted an opening for a U.S. financial reporting specialist on its own website and LinkedIn. The listing, which asked for an "External Reporting Specialist" to "prepare the company for SEC filing standards," has since been removed from both sites.

Although Spotify founder and CEO Daniel Ek previously told Swedish media he didn't have intentions for a public offering, Reuters interviewed experts who said the firm's $250 million funding round last fall gives the strong leverage to expand and go public later this year.

—CNBC.com

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