Feeds

Pop music, tech bubble... what could go wrong? Spotify said to be closer to IPO

Fellow Swedish firm Tobii also mulling its own market debut

Reducing security risks from open source software

Spotify could be making its much-rumoured market debut as soon as six months from now, after reportedly starting talks with investment banks for an IPO.

Those chatty sources "familiar with the process" told Quartz that the music streaming service was considering going public in autumn this year.

The report adds fuel to a well-stoked fire of rumours about the Spotify IPO. Last month, the music firm posted an ad for an "external reporting specialist" who could "prepare the company for international financial standards".

It also recently got a $200m line of credit from banks, another sign that it's getting ready to hit the markets, both because it feels it might need the cash and because the banks were willing to lend so much. Financial institutions will often extend big loans to companies on their way to an IPO in the hopes of getting picked to underwrite their debut.

If it all adds up to the IPO everyone is expecting, Spotify could get a market valuation of more than $4bn, based on its last funding round of $250m.

Spotify isn't the only Swedish tech firm mulling over the markets at the moment. Eye tracking technology company Tobii is also considering a listing that would value it at around $300m, business daily Dagens Industri reported.

The company, which is co-owned by Chipzilla, develops tech that tracks natural eye movements and uses them for controls, such as in virtual reality computer games. ®

Mobile application security vulnerability report

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Nadella: Apps must run on ALL WINDOWS – PCs, slabs and mobes
Phone egg, meet desktop chicken - your mother
HP, Microsoft prove it again: Big Business doesn't create jobs
SMEs get lip service - what they need is dinner at the Club
White? Male? You work in tech? Let us guess ... Twitter? We KNEW it!
Grim diversity numbers dumped alongside Facebook earnings
ITC: Seagate and LSI can infringe Realtek patents because Realtek isn't in the US
Land of the (get off scot) free, when it's a foreign owner
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
prev story

Whitepapers

Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Reducing security risks from open source software
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.