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Mar 01, 2018 - The Washington Post

WALL STREET

Spotify files for IPO of up to $1 billion

Music-streaming service Spotify on Wednesday became the first major company to file for a direct listing of up to $1 billion with the U.S. Securities and Exchange Commission.

A direct listing is an unconventional way to pursue an initial public offering without raising new capital, helping the company avoid the need for a Wall Street bank or broker to underwrite the public offer.

The company did not specify a listing p...