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

Build a business case: developing custom apps

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. ®

The essential guide to IT transformation

More from The Register

next story
Microsoft exits climate denier lobby group
ALEC will have to do without Redmond, it seems
Caught red-handed: UK cops, PCSOs, specials behaving badly… on social media
No Mr Fuzz, don't ask a crime victim to be your pal on Facebook
Barnes & Noble: Swallow a Samsung Nook tablet, please ... pretty please
Novelslab finally on sale with ($199 - $20) price tag
Ballmer leaves Microsoft board to spend more time with his b-balls
From Clippy to Clippers: Hi, I see you're running an NBA team now ...
Kate Bush: Don't make me HAVE CONTACT with your iPHONE
Can't face sea of wobbling fondle implements. What happened to lighters, eh?
Video of US journalist 'beheading' pulled from social media
Yanked footage featured British-accented attacker and US journo James Foley
True fact: 1 in 4 Brits are now TERRORISTS
YouGov poll reveals terrible truth about the enemy within
Assange™: Hey world, I'M STILL HERE, ignore that Snowden guy
Press conference: ME ME ME ME ME ME ME (cont'd pg 94)
Call of Duty daddy considers launching own movie studio
Activision Blizzard might like quality control of a CoD film
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
7 Elements of Radically Simple OS Migration
Avoid the typical headaches of OS migration during your next project by learning about 7 elements of radically simple OS migration.
BYOD's dark side: Data protection
An endpoint data protection solution that adds value to the user and the organization so it can protect itself from data loss as well as leverage corporate data.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?