There is increasing evidence that Spotify is readying themselves for an IPO. A new report notes the streaming music service is lining up financial backing, which is usually a precursor to going public. Banks will underwrite a company’s IPO, and Spotify is said to be in discussions with several major financial houses.

Further lending credence to an IPO is that banks rarely invest in companies the same way venture capitalists do, so any discussions with a bank would likely be for something along the lines of going public. Quartz is citing people familiar with Spotify’s plans, but of course can’t divulge who that may be or how they know what they do say they do.

This all comes after Spotify posted for a job that also suggested an IPO was in the works. By creating a job posting for someone who can prepare the company for SEC filings, it only added fuel to the fire. Now that they’re allegedly talking to banks about securing financial security in an IPO, we’ll wait for official news on a the company going public.

Of course, nothing official has been rolled out from Spotify, so this is speculative. Though strong evidence, we still don’t have final say from Spotify, so we wait in anticipation. Spotify may find the same fate as King has, with a sputtering start to their public offering, but all should end up just fine in the long run.