Goldman Sachs subsidiaries have unloaded $75 million in shares of Spotify, even as it’s working to help the Sweden-based streaming service go public on Wall Street, Sky News reported Friday.
“Insiders said that three GSIP entities — Global Private Opportunity Partners II LP, Global Private Opportunity Partners II Offshore Holdings LP and ODM Investors LP — had collectively sold more than 24,000 Spotify shares at a price of $3,100 each,” the British cable-news channel said.
Unlike market rivals Google Play, Amazon Prime Music, Pandora and Apple Music, Spotify is the only major music-streaming service not currently owned by a publicly traded company.
Goldman is assisting Spotify as it nears a reportedly $13 billion IPO, although Spotify executives have reportedly considered a less costly, but also less prominent “direct listing” to mark their Wall Street debut.
• Ken Shepherd can be reached at kshepherd@washingtontimes.com.
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