Spotify has began trading on the New York Stock Exchange just moments ago. After a few hours of behind-the-scenes trading, the official debut public price for Spotify (SPOT) has been revealed at $166 per share, resulting in a market cap worth $29.6 billion.
Before today's valuation, analysts reported that Spotify's valuation would be anywhere between $18 to $44 billion. As of May 2015, Spotify's valuation stood at just $8 billion. Experts warned of some major volatility though due to Spotify's unusual ‘direct listing.'
Related: Spotify Equalizer
According to the documents filed with the SEC in the past month, Daniel Ek owns 28.4% of the 55.7m shares.
Spotify's Estimated Valuation in Billions
Follow Spotify's movement on the NYSE.
Related: Spotify Equalizer
Related: Robinhood Referral Code
