- Spotify is expected to go public as a direct listing on the NYSE between Q4 2017 and Q1 2018, according to sources.
- Sources say the company is valued at $13 billion.
Spotify will be a direct listing on the NYSE when it goes public, forgoing a traditional initial public offering, sources told CNBC.
The streaming music service is valued at $13 billion, according to sources. The listing is expected between the fourth quarter of 2017 and first quarter of 2018. Morgan Stanley, Goldman Sachs, and Allen & Co. are advising on the listing, the sources added.
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The company currently has 50 million
During an IPO, the company offers investors shares before it goes public, which allows underwriters to set an initial share price. A direct listing only allows investors to buy shares through the open market, and no price is predetermined.
— Reporting by CNBC's David Faber.