The music service Spotify first came out on stock exchange, where he was evaluated in $ 29.5 In this way, part of the high cost it immediately overtook Twitter, Snapchat and Viacom.
Why it's interesting
First , because for 12 years of its existence, Spotify works in loss, but while continuing to grow in price. Secondly , because the Swedes do not conducted an IPO (note: the public offering of shares among new investors), and at once also began to trade shares on exchange. They say that it is not looking at the first point, im not need to attract additional funding, so they wanted to democratize the exchange.
Who overtook Spotify
When Spotify shares settled on mark in $ 149, the total cost of Spotify reached $ 29.5 billion. For comparison, the capitalization of Twitter is $ 21.3 In addition to Twitter, Spotify has overtaken a bunch of large companies including Sprint, Snapchat, Viacom and CBS.
Source: The Verge