Hello everybody and welcome to Newsflash, the time where I report news.
Today's story is about Spotify and specifically, its business. First, an IPO is when a private company gives out its first public stock to the public and becomes a publicly traded company (eg. Apple). Just a day ago, Spotify announced that they will be filing for IPO and also for listing on the NYSE. "Instead of doing an IPO the normal way - hiring underwriters and issuing new shares to raise funds for growth - some big Spotify shareholders will simply sell a parcel of stock on a certain date, and others will, the company hopes, buy them." - John McDulling of Sydney Morning Herald.