Spotify may forego IPO and list directly on stock market

In a rare move, Spotify is reportedly considering skipping an IPO and directly listing on a stock market.

Spotify founder, Daniel Ek
Spotify founder, Daniel Ek

Most technology startups going public have avoided this strategy because it would mean having to comply with financial reporting rules without an influx of fresh funds, according to the BBC

Spotify has so far declined to comment on the story. 

The music streaming service is reportedly aiming at a valuation of more than $10bn (£8bn).

The Wall Street Journal reports that the platform has raised more than $1bn in equity and valued privately at $8.5bn in June 2015. 

Earlier this week, Spotify signed a multi-year licensing deal with Universal Music Group.