Spotify Officially Files for IPO With 71 Million Premium Subscribers and 159 Million Monthly Active Users

Spotify today filed to go public and plans to begin trading on the New York Stock Exchange under the name SPOT, reports CNBC. Shares of the company have privately traded as high as $132.50, giving the company a valuation of ~$23 billion based on ordinary shares traded in private transactions.According to Spotify's filing with the SEC, the streaming music service boasts 159 million monthly active users and 71 million premium subscribers as of December 31, 2017, which Spotify claims is "nearly dou