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Spotify IPO: 5 things to know about the streaming-music giant’s direct listing

Nearly a year to the day after Snap Inc.’s initial public offering, investors got a glimpse at what’s likely to be the biggest public tech debut since Snapchat’s parent company premiered.

Music-streaming service Spotify Technology SA SPOT, +0.00%filed Wednesday for a direct listing, revealing for the first time details of its steepening losses, fast-growing user base and ever-more-popular family plans.

Spotify is expected to make a big splash when its shares begin trading, even though the process by which the company goes public will be different than what investors are used to. Spotify won’t issue new shares and will forgo and a traditional initial public offering, opting for a direct listing instead.

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