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Why Spotify's Atypical IPO Matters For Wall Street And Silicon Valley

A trading post sports the Spotify logo on the floor of the New York Stock Exchange, Tuesday, April 3, 2018. Spotify, the No. 1 music streaming service which has drawn comparisons to Netflix, is about to find out how it plays on the stock market in an unusual IPO. (Richard Drew/AP)
A trading post sports the Spotify logo on the floor of the New York Stock Exchange, Tuesday, April 3, 2018. Spotify, the No. 1 music streaming service which has drawn comparisons to Netflix, is about to find out how it plays on the stock market in an unusual IPO. (Richard Drew/AP)

Music streaming company Spotify goes public Tuesday in a unique kind of initial public offering: Instead of offering up new shares to institutional investors, Spotify will let existing shareholders offer their holdings to the market. Investors have valued the company at around $20 billion, and it has 71 million subscribers. But it still doesn’t make any money.

Here & Now‘s Peter O’Dowd learns more about the IPO from Teddy Schleifer (@teddyschleifer), senior editor at Recode.

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