Spotify Ready to Go Public with 60 Million Subscribers

Focus on music Spotify is gaining customers faster than Apple with its streaming app. Spotify has added 20 million paid subscribers in less than a year, while Apple Music took more than a year and a half to make progress like that.
Spotify now has 60 million subscribers, compared with Apple Music which has 27 customers as of June, Techcrunch reported.

Spotify's ability to accelerate its growth rate, while competing with the world's most powerful company is a testament to the products and communities it develops.

Apple Music offers free trials for three months, comes pre-installed on the iPhone and pays a huge amount of money for exclusive early access to top albums.
The advantage of it might be to help Apple Music win certain artist fans, plus the main listeners who eventually switch from MP3. Spotify, however, goes into the streaming music lovers service.

Spotify is getting ready to do a "direct listing", in which the company intends to go public without doing an IPO. That way, an insider, not a company, will sell stocks to the stock market.

This is a very unusual step and invites widespread skepticism. While many companies are afraid of the IPO process with the bankers collecting institutional investors and determining the price for this launch is an opportunity to raise money for the company.
By jumping this way, Spotify could potentially lose hundreds of millions of proceeds from the IPO, but he can make a second bid to earn cash in the future. Spotify is said to be on track to complete this process before the end of the year, as previously reported by The Wall Street Journal.