Music streamer Spotify files for an IPO; company could be valued as high as $23 billion

With 71 million paid subscribers, and 88 million listening to an ad-supported free tier of service, Spotify is the world's largest streamer of music. Spotify might not hold that position forever, which is why the company has decided that now is the time to file for an IPO (Initial Public Offering). In second place is Apple Music, which has garnered a total of 36 million paid subscribers and is projected to surpass Spotify in the U.S. by this summer. Apple does not have a free ad supported tier of service although it does offer a free three-month trial.

One of the bad things about going public, ...