Spotify valued at nearly $30 billion in unusual Wall street debut

Accuracy score :
97%

Spotify valued at nearly $30 billion in unusual Wall street debut

Analysis: A Spotify Initial public offering without any shares raised from the public, All shares were listed with the help of Citdel Financial, Due to no shares being sold to the public , investment banking fees is low, around 0.3%- 0.5% instead of the normal 3-7% fees of IPO funds.

 181 Million (est) outstanding shares @ a price of $165.90 , traded lower at close to $149 with a market cap. of $26.9 billion.  Spotify has 71 million subscribers at  $10/month $100 a year, $7 billion revenue a year

Cconclusion: Spotify is in a good growing market, Music streaming,  keep close tabs on this company being the market leader, with Apple Music @ second, Pandora third.

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