Preparation is Matured, Spotify Ready IPO

Preparation is Matured, Spotify Ready IPO
The music streaming service, Spotify, is ramping up its plan to roll out Initial Public Offering (IPO). A number of preparations have been made, including solving legal cases and recruiting new talents.

Reported by Phone Arena, Spotify does not want any obstacles that hinder the initial public offering of its shares. Moreover, the company will hold an IPO in a few months.

Spotify last week, has completed his legal proceedings with a group of songwriters and music labels. The Company agreed to spend US $ 43.4 million on unpaid royalties.

Another preparation ahead of the IPO is to recruit great talents from well-known companies.

The Swedish company has reportedly added four new people to the team including Chief Operating Officer of Disney Tom Staggs, Swedish investor Cristina Stenbeck, former YouTube Product VP and MIT Shishir Mehrota graduate, and former Director of Microsoft Padmasree Warrior.

Along with the IPO plan, Spotify's business growth is quite good. In March, Spotify has more than 50 million paid subscribers. The number of paid users has increased 25 percent in the last six months.

Spotify is listed to have 40 million paid users by September 2016. In addition to premium monthly paid services, Spotify also provides free services supported by advertising. Unfortunately, Spotify does not disclose the total number of users of its services at this time. 

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