Deals
Spotify Calms Investors, Saying Listing Plans Still an Option
- Company reacts to Swedish radio interview Martin Lorentzon
- Co-founder and Deputy Chairman had said IPO reports ‘false’
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Spotify Ltd. moved quickly to assure investors that plans to go public are still on track for the music streaming service after co-founder and board member Martin Lorentzon told Swedish radio that reports of an impending New York Stock Exchange listing were false.
Lorentzon said the company didn’t “need any money” and that it is “not looking for more and any IPO isn’t on the agenda”. He said Spotify is still focusing on growth over profitability.