It’s expected that Spotify will be the next large tech unicorn to go public soon. With a recent announcement on Thursday it’s obvious that the company is getting serious about its numbers sharing that it now has over 70 million paid subscribers. When comparing it to Apple Music, Spotify has more than twice the amount of paid users.
It has gained roughly 10 million paid subscribers since the last time the company released this kind of data. Spotify made this announcement with a tweet that says “Hello 70 million subscribers.” Unlike Apple Music, Spotify also allows for a free version that is supported by advertising that has been reported to be over 100 million users of this model.
Since Spotify recently filed with the SEC a confidential IPO, these kind of growth numbers can be great to help potential investors to get on board during its road show prior to IPO day. For those that don’t know, an IPO is short for Initial Public Offering and is when a company starts to offer the sale of stock to the public.
Based on previous reports, it’s believed that Spotify has the potential to be valued around $20 billion when it finally decides to go public. Spotify is the market leader in this space and has a great lead over its competition.
Several have suggested that a Spotify IPO could come as soon as Q1 of 2018, sometime in March or April based on the report from The Wall Street Journal.