Spotify files for IPO

Akio Kon | Bloomberg | Getty Images

Daniel Ek, chief executive officer and co-founder of Spotify AB.

Spotify filed to go public on Wednesday.

The company will begin trading on the New York Stock Exchange under the ticker name SPOT.

Here’s Spotify’s F1 filing.

The company is the leader in streaming music services globally, with the company reporting 71 million paying subscribers and more than 159 million monthly active listeners as of December 2017. Its closest competitor, Apple Music, is far behind at 36 million subscribers.

The company reported $2.37 million revenue in 2015, $3.6 million revenue in 2016 and $4.99 million revenue in 2017, according to its F1.

“We set out to reimagine the music industry and to provide a better way for both artists and consumers to benefit from the digital transformation of the music industry,” the company said in its filing. “Spotify was founded on the belief that music is universal and that streaming is a more robust and seamless access model that benefits both artists and music fans.”

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