Music streaming service Spotify is going public. The company filed for its IPO,and will appear on the New York Stock Exchange under the name SPOT. Their IPO is offering up shares up to $1 billion.
In the filing, Spotify claimed to have 159 million monthly active users and 71 million premium subscribers.
USA Today notes, “In the lengthy F1 filing, Spotify didn’t offer much to show for how it will start making money.”