Spotify has announced another unusual side to its move to publicly list on the stock market. Perhaps fittingly, it plans to livestream its investor pitch later this month.
The streaming service filed documents setting its long-awaited plans to float in motion. Now some people are trying to work out if Spotify’s SEC filing this week tells us anything of value about whether or not the firm’s bold attempt to reinvent the music industry is going to have a happy ending. Meanwhile, another group is trying to work out if the company’s bold attempt to reinvent the way tech companies go public will prove to likewise end on a happy or sad note.
Spotify, of course, will arrive on the New York Stock Exchange via an unusual direct listing rather than the customary Initial Public Offering. It quite radically changes the way the company formally launches itself to the Wall Street massive.
To that end, rather than closed doors briefings for investor types, Spotify will livestream a pre-listing pitch on 15 Mar. According to the FT, the streaming business hopes that doing an investor presentation that way will “democratise information”. Which it probably will. Before people start navigating all that investor info via playlists and everything somehow skews back to the major players. Or something like that.
Elsewhere in Spotify news, the curator behind one of the streaming service’s most popular playlist brands, that’ll be RapCaviar, has left the company. Tuma Basa joined the digital firm in 2015 having previously worked for MTV. The hip hop centric RapCaviar playlist has nearly nine million followers and is being developed by Spotify as a wider content brand.[from http://ift.tt/2lvivLP]