Spotify share surge is sweet music for Scottish Mortgage

05 April, 2018, 01:01 | Author: Regina Lloyd
  • Home New Music Spada ft fiction – With You
  
    
                Spada ft fiction – With You
     
                    Apr

So, Spotify is now SPOT on the New York Stock Exchange, having finally listed. This is where the company doesn't issue new shares or seek to raise money through the process of going public, instead it gives existing shareholders the option to sell their shares to the public. On a comparable basis the Apple Music service has 46 million subscribers.

Services such as Apple Music or Amazon Music Unlimited, even though trailing after Spotify in terms of numbers of subscribers, do not have to worry about staying commercially viable.

Spotify's direct listing on the New York Stock Exchange was a non-traditional route to the public capital markets.

The direct listing allows Spotify to avoid some of the frustrations that companies have when listing publicly.

In 2015, Spotify's valuation was priced at just $8 billion - this figure has tripled in 3 years.

This is the second piece of good news for the UK's largest public equity investment trust which last month saw Dropbox (DBX.O) achieve an $11.5 billion valuation on its flotation on Nasdaq. In contrast, Spotify raised exactly $0 in its IPO yesterday.




Morris is feeling quite bullish on Spotify's future prospects, and he points to the fact that the streaming music service offers up "convenience, curation, breadth of content, and payment options" for users.

Spotify's IPO made for an exciting day on Wall Street. Sony Music provides its artists' music to the Swedish company.

"Normally, companies don't pursue a direct listing".

Daniel Ek, Spotify's co-founder and chief executive, added in the Times report that the manner in which they went public reflected the company's self-image as a disrupter in the industry. While I appreciate that this path makes sense for most, Spotify has never been a normal kind of company.

Spotify has yet to turn a profit in its almost 10 years of existence, and the company even warned last week that it might see its sales growth slow in 2018, although it remained hopeful of achieving a lower annual loss.

Spotify owns about 9% of Tencent Music, a stake valued at €910 million ($1.1 billion), according to a regulatory filing with the US Securities and Exchange Commission.

Recommended:

  • Last eastern Ghouta rebels poised to surrender: Syrian state media

    Last eastern Ghouta rebels poised to surrender: Syrian state media

    We'll be coming out of Syria, like, very soon. "We're going to get back to our country, where we belong, where we want to be". Engel believes that in both Iraq and Afghanistan, the US military pulled out prematurely and was then forced to go back.
    Donald Trump's lawyers seek to settle Stormy Daniels case in private

    Donald Trump's lawyers seek to settle Stormy Daniels case in private

    As anti-Trump as Rogen may be, however, he doesn't seem to be losing his mind over Stormy Daniels like some of his colleagues. She did mention it and again, at the time , it wasn't that surprising.
    France braces for mass rail strikes

    France braces for mass rail strikes

    What remains unclear is whether Macron might offer further concessions to get the unions to back down before the strikes bite. His popularity rating is near the lowest seen since he took office in May 2017.
  • Dow Sinks After News Of China's New Tariffs

    Dow Sinks After News Of China's New Tariffs

    The U.S. government is inviting public comment on its trade sanctions through May 11 and will hold a hearing on the plan May 15. Chinese policies "coerce American companies into transferring their technology" to Chinese enterprises, said a USTR statement .
    John Oliver Slams

    John Oliver Slams "Brainwashed Cult" Sinclair Broadcast Group-Again

    Sinclair has been a subject of concern for many since a year ago , when Oliver initially covered the conservative company. Has America ever needed a media watchdog more than now? The segment has more than seven million views on YouTube.
    US Unlocked Samsung Galaxy S9 and Galaxy S9

    US Unlocked Samsung Galaxy S9 and Galaxy S9

    Of course, battery size isn't everything and the phone's setup also contributes a lot to the battery performance. Therefore this early production could likely hint that we get to see the Note 9 release earlier than expected.
  • Trade War Fears Justified as China Responds with Force, Stock Markets Tumble

    Trade War Fears Justified as China Responds with Force, Stock Markets Tumble

    In 2016, China imported $33bn worth of soybeans in total, with Brazil its biggest supplier with $15.5bn, according to ITC. According to The Street , "China is Boeing's biggest export market and the 737 is its biggest selling product".
    QUANTRES ASSET MANAGEMENT Ltd Acquires Shares of 36200 Intel Co. (NASDAQ:INTC)

    QUANTRES ASSET MANAGEMENT Ltd Acquires Shares of 36200 Intel Co. (NASDAQ:INTC)

    Finally, DZ Bank reiterated a "hold" rating and set a $53.00 target price on shares of Intel in a report on Wednesday, March 28th. If we look at stock performance in last active day trading, we see that stock has moved edged up 2.45% to end the day at $10.05.
    Hill Street Blues Creator Loses Cancer Battle

    Hill Street Blues Creator Loses Cancer Battle

    Bochco's colleagues and admirers quickly took to Twitter to mourn the prolific creator. His first wife was actress Barbara Bosson, who co-starred in " Hill Street ".
  • Chandrababu Naidu slams Centre over denial of Special Status to Andhra

    Chandrababu Naidu slams Centre over denial of Special Status to Andhra

    Reiterating the Centre's commitment towards the development of Andhra Pradesh, Javadekar ridiculed Naidu's politics. With all four years in NDA, I have done my best.
    Esty Will Not Seek Re-Election To Congress

    Esty Will Not Seek Re-Election To Congress

    A number of CT elected officials called on Esty to resign following the revelation about the sexual harassment case in her office. According to the Connecticut Post , Baker also received $5,000 in severance, which Esty said she repaid to the US Treasury.
    Kim Jong-un, wife attend K-pop concert in Pyongyang

    Kim Jong-un, wife attend K-pop concert in Pyongyang

    This year's drills feature fewer strategic weapons such as a nuclear-powered aircraft carrier, Seoul's military has said. But it's the shifts in technology since the early 2000s that could make this musical extravaganza different, Kang said .


Popular

Apple Hires Google's AI Chief, Tim Cook Touts His Commitment to Privacy
Giannandrea helped integrate AI into Google's search platform, GMail, and Google Assistant , that company's digital assistant. Because of its stance on data collection, Apple still has no access to the massive data sets that Facebook and Google do.

Marijuana may be replacing opioid prescriptions
One, published previous year , showed that Medicare saved about $ 165 million in 2013 from medical marijuana laws . They concluded, "Cannabis can decrease the use of other prescription medicines, including opioids".

Trump Congratulates Egypt's President On Winning Criticized Election
At least five major candidates, including Sami Anan and Ahmed Shafiq, were either sidelined or jailed in the lead up to the vote. In 2014, as army chief, Mr al-Sisi ousted Egypt's first freely elected president Mohammed Mursi after mass street protests.

Foreign min denies Israel migrant deal (4)
A spokesman for the German Interior Ministry said he was unaware of any plans to resettle African migrants from Israel to Germany. Naftali Bennett, leader of the nationalist Jewish Home party, welcomed the move, calling the deal "very dangerous" for Israel .

NZ vs ENG 2nd Test: Records broken and interesting statistics
For now they can bask in the glory of a significant series win, but they deserve not to be undersold. New Zealand did it all themselves, from a position few would have given them a chance.

Moto G6, Moto G6 Play to launch next month, reveals retailer
According to reports, Moto G6 series will be heavily inspired by the Moto X4 with the same glass back and puck-shape camera. Moto G6 - It has a 5.7-inch Full HD MaxVision display with a resolution of 1080x2160 pixels and an aspect ratio of 18:9.

Srinagar restrictions continue after extension of separatist-called shutdown in Kashmir Valley
That upsurge in violence has escalated in 2018, with 49 armed freedom fighters already killed this year. Another youth was killed in a brief gunfight with forces at Dialgam in Islamabad district, he added.

SUV data shows deadly California wreck may have been intentional
Investigators are still trying to determine what caused an SUV carrying a family of eight to plunge off a California cliff. She said they had no prior history with the family before March 23 and have not made any findings in the investigation.

Moritz Wagner Lifts Michigan Past Loyola-Chicago In Final Four
The team's 32 wins set a program record and the Ramblers made it to the Final Four for just the second time in school history. Loyola-Chicago's dream and also spiritual season ended in San Antonio after losing Saturday to MI in the Final Four, 69-57.

NCAA Latest: Not much public faith in MI upset of Nova
The Wolverines have the third-best defense in the country by KenPom's ratings and pargicularly focus on stopping the 3-point shot. Kansas' early game plan didn't work, but it didn't do anything to try and make Villanova's life more uncomfortable.