Jan 3, 2018

Exclusive: Spotify files for its IPO

Photo: John Locher / AP

Music streaming giant Spotify confidentially filed IPO documents with the SEC at the end of December, Axios has learned from multiple sources.

Why it matters: Spotify is pursuing a direct listing instead of a traditional float, causing both Silicon Valley and Wall Street to pay very close attention. If successful, it could change how some tech companies go public.

The direct listing means no road show or other typical IPO accoutrements — including some of the Wall Street fees, although several investments banks are involved. The quiet period does seem intact, however, as a Spotify spox declined comment.

All indications are that Spotify wants to list in Q1, and timing of the confidential F-1 filing would support such a calendar. But yesterday came news that the company has been sued for $1.6 billion for copyright infringement. It's unclear how the suit will affect Spotify's direct listing plans, outside of needing to add a new risk factor to the confidential docs.

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Coronavirus updates: Global death toll tops 32,000

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens and confirmed plus presumptive cases from the CDC

The novel coronavirus has now killed more than 32,000 people around the world — with Italy alone reporting over 10,000 deaths, per data from Johns Hopkins.

The big picture: The number of deaths from COVID-19 in the U.S. surpassed 2,000 on Saturday. The United States leads the world in confirmed coronavirus infections, with more than 125,000 by noon on Sunday. The number of those recovered from the virus in the U.S. surpassed on Saturday evening.

Go deeperArrowUpdated 18 mins ago - Health

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 12 p.m. ET: 685,623 — Total deaths: 32,137 — Total recoveries: 145,706.
  2. U.S.: Leads the world in cases. Total confirmed cases as of 12 p.m. ET: 125,313 — Total deaths: 2,197 — Total recoveries: 2,612.
  3. Federal government latest: Trump announces new travel advisories for New York, New Jersey and Connecticut, but rules out quarantine enforcement.
  4. Public health updates: Fauci says 100,000 to 200,000 Americans could die from virus.
  5. State updates: Louisiana governor says state is on track to exceed ventilator capacity by end of this week.
  6. World updates: In Spain, over 1,400 people were confirmed dead between Thursday to Saturday.
  7. What should I do? Answers about the virus from Axios expertsWhat to know about social distancingQ&A: Minimizing your coronavirus risk
  8. Other resources: CDC on how to avoid the virus, what to do if you get it.

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Fixing America's broken coronavirus supply chain

Polowczyk speaks at a coronavirus briefing at the White House, March 23. Photo: Brendan Smialowski/AFP via Getty Images

The senior Navy officer now in charge of fixing America's coronavirus supply chain is trying to fill the most urgent needs: ventilators and personal protective gear. But barely a week into his role at the Federal Emergency Management Agency, he's still trying to establish what's in the pipeline and where it is.

Driving the news: "Today, I, as leader of FEMA's supply chain task force, am blind to where all the product is," Rear Adm. John Polowczyk tells Axios.

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