Spotify has reportedly filed to go public
In a move that's been highly hinted towards already, Spotify has reportedly filed confidential IPO documents with the Securities and Exchange Commission.
The news was first reported by Axios, and later by Bloomberg, as Billboard explains.
Read more: Spotify sued for reportedly infringing copyrights of Weezer, Tom Petty, more
As Bloomberg reports from a “person familiar with the matter, who asked not to be identified discussing private information,” Spotify sent confidential documents to the SEC in late December with the hopes of listing its shares in the first quarter of this year.
Of course, this news follows the $1.6 billion copyright lawsuit from Wixen Music Publishing that was initially reported yesterday, claiming the music streaming service allegedly used Tom Petty's “Free Fallin',” the Doors' “Light My Fire” and “tens of thousands of other songs without a license and compensation.”
Back in June, it was reported that the streaming service hit 140 million active users, and the number has been steadily growing since.
If Spotify does go public in the first quarter, it'll be announced before March 31, which marks the end of the quarter.
