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Spotify moves closer to suspected IPO with new hiring

Streaming titan Spotify may be on the verge of going public.

Paul Vogel, a former employee of Barclays, was recently hired as Spotify’s first-ever Head of Investor Relations, reports The Fader. The hire might signal a move to go public in an effort to raise capital and deepen its expansion as the world’s most powerful music streaming platform. Currently at 30 million paying subscribers and counting – more than any other competing platform – now would be a prime opportunity for Spotify to become a publicly traded and owned company.

Despite reporting an increase in both revenue and losses in 2015, going public could be a major component of the streaming service’s long-term strategy to increase its international presence.

Stay tuned to Dancing Astronaut for further updates.

Via: The Fader

Read More:

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Apple confirms a complete overhaul of Apple Music interface

Amazon is reportedly launching a music streaming service later this year


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