Online music streaming service Spotify is recruiting a US 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 $8 billion.
Meeting US 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, 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 complaint."
Spotify declined to comment on whether it has plans for an IPO.
