Spotify Can Justify Valuation By Becoming Netflix of Music

Spotify, the Swedish-based music streaming company, is expected to go public at some point before the end of the first quarter with an estimated valuation of nearly $20 billion. In a twist, it will shun the IPO route, bypassing high-priced investment bankers, and instead pursue a direct listing, which enables company insiders to offer their shares for sale on a public exchange.

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