News

Spotify is set to go public on the New York Stock Exchange today

The music-streaming service intends to trade under the ticker name “SPOT” on the New York Stock Exchange.

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Published

8 years ago

April 3, 2018

WERUN

Investors in Spotify Technology SA could be in for a turbulent Tuesday as the company uses an unorthodox manoeuvre to go public on the New York Stock Exchange, writes The Wall Street Journal.

The music-streaming company has warned the process, called a direct listing, could result in greater volatility on the first day of trading than in a typical IPO. IPO stands for Initial Public Offering. In part, that is because there isn’t any bank to act as a “stabilizing agent” and prop up the stock if it plunges.

This is not the only thing Spotify does differently. Representatives of the company elect did not participate in the usual rituals at a stock market launch, such as calling the bell when the New York Stock Exchange opens on Tuesday morning.

The streaming service has 178 million shares and 91 percent of them will be eligible for stock trading. But founders Daniel Ek and Martin Lorentzon are expected to keep shares initially – it is talked that it is rather two-thirds of the shares that will be available, reports The Wall Street Journal.

Spotify has been valued at approximately $23 billion.

Would you buy stocks in Spotify?

Related Topics:Daniel Ek Martin Lorentzon Spotify The Wall Street Journal

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Skrillex, Boys Noize & Ty Dolla $ign – Midnight Hour

Published

7 years ago

September 6, 2019

WERUN

Skrillex is killing it this year and it is really good to see him back in the game.

The new single with Boys Noize and Ty Dolla $ign called “Midnight Hour” is a wonderful electronic track.

Out now via OWSLA and Atlantic Records.

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Azealia Banks is the next international superstar to criticize the socialist regime in Sweden

Published

7 years ago

August 26, 2019

WERUN

After the A$AP Rocky scandal in Stockholm, Sweden, the Socialist regime took a real blow. More and more celebrities have got their eyes open for what’s really going on in the leftwing extremist country.

Azealia Banks aired here thoughts on Instagram. Saying:

“I’m in Sweden feeling oppressed under the socialism here”, she writes.

She also writes that “American Millenials and Bernie Sanders are BUGGGING for trying to bring this Socialist shit to America.

Se the whole message about the Socialist regime in Sweden below: