STOCKHOLM Feb 17 Online music streaming service
Spotify is recruiting a U.S. financial reporting specialist,
adding to speculation that the Swedish start-up is preparing for
a share listing, which one banker said could value the firm at
Meeting U.S. Securities and Exchange Commission (SEC)
standards for filing financial disclosures are essential for any
firm planning to go public and bankers and lawyers said they
inferred from the job ad that the company is getting ready for
an initial public share offer (IPO), possibly next year.
"It looks like they are preparing themselves for an IPO,"
said one corporate finance lawyer, who is not advising the firm.
The job advertisement, posted on Spotify's website and on
LinkedIn, said the successful candidate would be required to
"prepare the company for SEC filing standards. Set up all
reports necessary to be SEC compliant."
Spotify declined to comment on whether it has plans for an
"As Spotify grows and becomes a more mature company we are
looking for people who can help us keep our financial reporting
in order and up to global standards," a spokesman said.
Spotify raised $250 million in a funding round in November,
making it one of the world's most richly capitalised start-ups.
One investment banker said that last year's fundraising
meant the company would probably focus on further expansion so
that it could go to the market with a flotation next year, by
when the company could be valued at as much as $7 billion to $8
He said it would be advisable to employ expertise in filing
the company's accounts to listing standards well in advance of
"They would need such a person, and to make sure that person
is settled in, in order for it to be possible to list the
company in the United States next year."