STOCKHOLM — The value of music streaming service Spotify, which is planning a stock market listing, has grown around 20 per cent to at least US$19 billion in the past few months, outperforming U.S. and European tech indexes, sources familiar with the matter said.
The most recent private trades in the Swedish company have taken place at above US$4,000 per share according to sources.
One of the sources said the recent trades were at a record-high of US$4,200, valuing the firm at US$19 billion or more. That compares to around US$16 billion earlier this autumn.
Spotify is aiming to file its intention to float with U.S. regulators towards the end of this year, sources said.
Also supporting perceptions of Spotify's increasing value, Tencent's (TCEHY.PK) purchase of new Spotify shares implies a valuation of US$5,000 per share, one of the sources said.