Music streaming company Spotify is reportedly in talks with US financial regulators over plans for an initial public offering (IPO) later this year.
According to Reuters' 'sources familiar with the situation', the Stockholm, Sweden-based company is looking to list on the New York Stock Exchange via what's called a 'direct listing' by June 2018.
This, they said, would provide investors with the opportunity to sell their shares to the public, enabling them to cash-in on a company in which more than $2.3 billion has been invested since it was founded in 2009 - $1 billion of that in March 2016.
The company has been considering an IPO for some time. In February 2017, TechCrunch suggested that it was planning a 2018 listing to "build up a better balance sheet and work on shifting its business model to improve its margins".
Should it carry out this plan, the music streaming company would be among the first major firms to file for a direct listing.
A direct listing is essentially a way to offer shares on a stock exchange without the need to raise more capital for the company. It also reduces the need for investment bank involvement slashing the level of fees involved.
While Spotify faces stiff competition from the likes of Apple, Google and Amazon, it remains the biggest music streaming company in the world, claiming growth of around 19 per cent in just the past few months.
One fly in the ointment, though, is an impending $1.6 billion lawsuit from Wixen Music Publishing, filed last week.
The publishing company claims that it is the exclusive licensee of such popular classics as Tom Petty's "Free Fallin'" and the Doors's "Light My Fire", and has complained that Spotify has been streaming these songs to users via its extensive library without paying for the rights.
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