Why Spotify decided to go public now

Spotify provides joy on a daily basis for millions of people worldwide. Now, the music-streaming service is becoming a financial opportunity, not just a welcomed distraction. 

On Tuesday, Spotify began trading on the New York Stock Exchange under the ticker $SPOT. The stock opened at $165.9 per share, valuing it as $29.5 billion. Spotify's decision to go public has been expected as a way to return capital to early investors, but it comes with wariness from Wall Street and from Silicon Valley.  

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Spotify's IPO has been unconventional by most industry standards. For example, the company didn't work with bankers to sell shares through institutional investors. Instead, it's completing a direct listing. Additionally, while traditional IPOs feature executives on the trading floor to ring the bell and speak with reporters on why the stock is a worthy investment, Spotify's team was absent from the NYSE.  Read more...

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