Private trades value Spotify at US$16b; firm still suffering huge losses

London

PRIVATE trades in Spotify shares are valuing the music streaming company at about US$16 billion, according to people familiar with the deals, raising the prospect of a bumper flotation next year.

That is around US$3 billion higher than in similar trades up until June, the sources said, adding that strong demand for the shares and rising subscription numbers at the Swedish business meant that it could be worth at least US$20 billion when it goes public.