You’d think a A $1.6 billion lawsuit might derail a company having trouble turning a profit and about to go public.
Not so much.
Spotify is all systems go for its upcoming and unorthodox public offering, in which the company will start start publicly trading its shares on the New York Stock Exchange in an unorthodox direct listing arrangement.
Despite the lawsuit, the company has enjoyed a run of good news. Last week, Spotify announced it had surpassed 70 million paid subscribers, drubbing the competitionApple Music, in second place, has 30 million subscribers. Before that, Spotify signed new deals with record labels that provided the streaming music company with a better cut of the money it brings in through subscribers and advertising — a major step toward profitability. Read more…
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Originally syndicated from A $1.6 billion lawsuit won’t derail Spotify or its IPO
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