Spotify has made another move that indicates it is preparing to go public. It took on a $200 million credit facility from its banks, according to The Independent.
“Both Twitter and Facebook did exactly the same two things before their IPOs — got their financing in order and made an important acquisition — so speculation is rife that Spotify could be next to tap the public markets,” the paper says.
The company previously advertised for a financial executive qualified to file SEC disclosures, we noted back in February. Goldman Sachs is one of the banks linked to the rumoured IPO.
Spotify has raised $US538 million from venture capital investors previously.
When the company files, it is likely to reveal revenues of more than the $US602 million (€435 million) it generated in 2012, according to Reuters. It had a net loss of $US81.62 million (€58.7 million) that year.