Washington, Mar. 28 ANI | 5 months ago

Music streaming service, Spotify, is reportedly planning to go public in later this year.


Speculations have been rife about the company getting ready for an IPO and the recent estimations point to the debut around fall of 2014.

According to Tech Crunch, some of the rumours surrounding Spotify's IPO debut are based on the company's recent posting about a job opening for an External Reporting Specialist to 'prepare the company for SEC filing standards'.

Spotify is also said to have received a 200 million dollars credit facility from Morgan Stanley, Credit Suisse, Deutsche Bank and Goldman Sachs.

The service also acquired The Echo Nest for 100 million dollars in order to secure an important part of its service, music discovery.

The report said that if Spotify wants to make a compelling IPO, it needed to show that it could be profitable in the foreseeable future.

(Posted on 28-03-2014)