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Spotify’s IPO is set for April 3

Spotify’s IPO is set for April 3
[Photo: Heidi Sandstrom/Unsplash]

But the music streaming giant will forgo standard IPO traditions, reports CNBC. Its nontraditional public listing won’t feature underwriters or a lock-up period like traditional IPOs. When the stock goes live on the New York Stock Exchange on April 3, it will trade under the symbol SPOT. The company’s shares have traded as high as $132.50 on private markets already. As of December 2017, Spotify had 71 million paying subscribers and more than 159 million monthly active listeners (MAUs). The company will next give an update on their paying subscribers and MAU’s on March 26–just days before their nontraditional IPO.

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