It's also had positive free cashflow for the last two years. In its F-1 filing, Spotify revealed that it posted €4 billion (nearly $5 billion) in revenue in 2017, up from nearly €3 billion in 2016 and €1.9 billion the year before. It does, however, have steady revenue growth and it plans to prioritize growth above profit. Spotify is still unprofitable, posting a net loss of €1.2 billion last year. Unlike the traditional IPO, it's a completely level playing field.' “There's no underwriting syndicate, no limited float, no IPO allocations and no preferential treatment for any investor. “Any investor who wants to buy Spotify shares will be able to do so on the exchange,” the company shared in a video separate from the livestream. The company argued during Thursday's investor day that there's no reason to dilute shareholders by raising new capital instead, Spotify wants to offer liquidity to its investors by allowing them to sell shares on the NYSE as opposed to the private market. Spotify's direct listing differs from a traditional IPO in that only existing private shares will be issued and no new capital will be raised. 'You won't see us ringing any bells or throwing any parties.' 'Going public has never been about the pomp and circumstance,' Ek said as he explained the decision to hit the public markets in such an unusual manner. Spotify, however, opted to livestream the event as part of its greater mission to be radically transparent, a strategy reflected by the company sharing insight on why it opted for a direct listing rather than a traditional IPO. He and several other Spotify executives spoke on behalf of the company during its investor day in New York, a key part of the pre-IPO process that's typically for investors' eyes only. Spotify co-founder and CEO Daniel Ek announced Thursday the music streaming giant will debut on the NYSE on April 3, with existing shares trading under the symbol SPOT.

Spotify plans to go public