The music streaming service is finally set to go public this September, reports the Wall Street Journal. However, instead of a traditional IPO, Spotify will go public via what's known as a "direct listing." As the WSJ explains:
"By pursuing a direct listing, the company could save on hefty underwriting fees and avoid dilution that comes with issuing new shares, according to some of the people familiar with the matter. Its early investors would be subject to less stringent lockups governing the sale of insiders' shares, those people said. What's more, the company could avoid the first-day trading pop that characterizes many IPOs shepherded by underwriters. They are good for some investors but also indicate a company left money on the table."