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Spotify — the music streaming company with over 100 million users — was expected to launch its IPO in 2017, but according to TechCrunch, it now looks like the company is planning to hold off until 2018.

At the moment Spotify, which is live in 60 markets and lists 30 million songs, stands as the biggest of the streaming companies in terms of users, both free and paid. But the company has been locked into previous licensing deals that don't give it a strong enough margin for them to truly reap the benefits.

The delay would buy Spotify more time to work on its business model and improve its finances in the hopes of going public at a higher valuation. Part of that is re-working Spotify's licensing relationship with labels to move from a varied pricing model — based on the number of times a track is played — to a fixed one.

Why this matters: The current climate for tech IPOs will be tested very soon, as all eyes are on Snapchat, which could announce its IPO as early as today.

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Updated 18 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

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  5. States: Georgia Gov. Brian Kemp to drop lawsuit over Atlanta's mask mandate.
  6. Business: Why the CARES Act makes 2020 the best year for companies to lose money.
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Axios-SurveyMonkey poll: Harris boosting Biden ticket with key voters

Data: SurveyMonkey poll of 2,847 U.S. adults conducted Aug. 11–12, 2020 with ±3% margin of error; Chart: Naema Ahmed/Axios

Kamala Harris is accomplishing what Joe Biden's campaign hoped she would in her first two days as his running mate — doing no harm, while exciting parts of the base with whom Biden needs the most help.

The big picture: Black women especially, but also Black men, Hispanics and Democrats and independents across the board say they are more likely to vote for Biden with Harris on the ticket, according to a new Axios-SurveyMonkey poll.

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Epic sues Apple over developer tax as Fortnite is pulled from App Store

Illustration: Sarah Grillo/Axios

Fortnite maker Epic Games on Thursday escalated its battle over Apple's App Store tactics, suing the tech giant over antitrust claims while also baiting Apple into dropping Fortnite from the App Store.

The big picture: Epic is just one of several developers clashing with Apple. They argue the company harms competition by taking a cut of up to 30% on in-app purchases and subscriptions and blocking most developers from getting around the tax by charging their users directly.