11/9/2022 0 Comments Will spotify stock go up![]() ![]() However, it is particularly hard to tell how much money some investors made as Spotify grew because it has had such a broad history of private stock sales between shareholders. Each of these companies control between five and ten percent of the stock. Its closing market value after the first day was approximately $27 billion, putting it ahead of Twitter and Groupon, but behind Alibaba, Facebook, Snap and Google following their first trading days.Īlong with the major labels, big holders of Spotify stock include the investing firms Tiger Global, TCV and the Chinese conglomerate Tencent. Spotify is also the most valuable tech IPO since Snap went public last year, closing its first day at nearly $29 billion. So, someone like, for example, CEO Daniel Ek could sell his shares at any time.įurthermore, Spotify’s public offering is not only notable because of this unusual decision, but also because the stock ranked among the most valuable internet companies to list in the US. This meant that company insiders are not required to hold onto their shares for an extended period of time in the way that they would normally be required. It instead allowed its existing shareholders to directly offer their holdings to the market. This move to sell directly to the market also means that rather than selling shares to institutional investors in advance of the first day of trading (which is what normally happens in an IPO), Spotify didn’t sell any new shares. ![]() Remarkably, rather than selling new shares to institutional investors just before the stock can be purchased by the public, Spotify instead chose to list its existing shares directly on the New York Stock Exchange. ![]() The IPO had the fortunes of Spotify’s founders and investors skyrocketing, however it is unclear whether Spotify customers and artists who have supported the service for all these years will see any kind of payoff. Spotify’s debut on the stock exchange was generally a success, opening at a price of $165.90 per share giving the streaming service a market cap just under $30 billion, nearly four times the company’s valuation as of its last round of funding. The online music-streaming giant, which has 159 million monthly listeners and 73 million paid subscribers, is now listed on the New York Stock Exchange and has been somewhat successful with its transition to being a public entity thus far. After many years of uncertainty through the digital era, the major labels are finally in a position to prosper, thanks to Spotify’s move to go public. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |