Spotify reveals date to go public
Spotify has confirmed the date for its shares to begin trading on the New York Stock Exchange.
Read more: Spotify has reportedly filed to go public
The streaming service announced it will go public April 3, according to Billboard.
The announcement was made Thursday, March 15, on Spotify's Investor Day, during which company executives also shared they will provide a full-year financial guidance on March 26.
In January, news that Spotify had filed confidential IPO documents with the Securities and Exchange Commission was shared by Axios.
According to Bloomberg, “person familiar with the matter, who asked not to be identified discussing private information” reported that Spotify sent confidential documents to the SEC in late December with the hopes of listing its shares in the first quarter of this year.
This news followed a $1.6 billion copyright lawsuit from Wixen Music Publishing, 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.”
In June 2017, it was reported that the streaming service hit 140 million active users, and the number has been steadily growing since.
Watch more: DED share which songs they just can’t listen to anymore
