According to NY Times, Spotify has finally signed agreement with Universal Music Group. It’s world’s biggest record company whose artists include Lady Gaga, U2, Drage. And this has been their biggest obstacle to going public.
Spotify has been valued at more than $8 billion, it has 50 million paying subscribers and 50 million listening for free. Those listening for free have been paying by listening to ads.
We’ll keep an eye on Spotify as recently there are limited number of enticing IPOs.