Spotify quietly files to become a public company
It's a poorly-kept secret that Spotify wants to go public , but when, exactly? Apparently, the answer is "soon." Axios has learned that Spotify quietly filed initial public offering documents with the US Securities and Exchange Commission in late December. The company has declined to comment, but the insiders claim that Spotify has chosen to go with a direct listing, saving costs and preventing shareholders from losing money. The timing suggests that Spotify could launch its IPO in the first quarter of 2018, although whether or not that happens is up in the air -- the streaming service may have serious legal hurdles to clear. Spotify has already been facing lawsuits over claims it doesn't have full licenses for songs, and word came just this week that it was facing a $1.6 billion copyright lawsuit from Wixen Music Publishing. It could be difficult to attract those all-important investors if there's doubt of whether or not Spotify is on solid legal ground, or...