Spotify seems to be lining up an IPO, with a recent job opening hinting to an upcoming stock offering. In hiring an ‘External Reporting Specialist’, Spotify seems to be getting their ducks in a row for going public. The job description seems to tip their cap as well.
Inasking to find someone who can “prepare the company for SEC filing standards”, Spotify clearly has something more in mind. If that doesn’t persuade you to believe, asking for someone who can “set up all reports necessary to be SEC compliant” just might. Spotify is, of course, coy about the filing.
A spokesperson tells Reuters “as Spotify grows and becomes a more mature company we are looking for people who can help us keep our financial reporting in order and up to global standards”. Spotify CEO Daniel Ek has also been slightly dismissive about going public in the past, but there is almost no denying it at this point. After raising $250 million in funding last November, analysts put their IPO valuation much higher.
One analyst notes Spotify could be valued at $7 to 8 billion upon public offering (which seems radically high to us, considering they’ve only raised a total of $538 million or so in funding). As for the job opportunity, “they would need such a person, and to make sure that person is settled in, in order for it to be possible to list the company in the United States next year”. Spotify has over 24 million active users, and is one of the better music streaming services available.