Spotify, the Swedish music streaming giant, has recently revealed plans to go public in the United States, aiming to raise $1 billion (approximately NT$30 billion), which has sparked significant interest from investors. In addition to its IPO strategy, the company is reportedly exploring new opportunities by developing its own line of smart speakers, hoping to tap into the booming smart speaker market.
Although Spotify's OEM orders for a smart speaker have not yet been finalized, the company is expected to partner with experienced manufacturers. Hon Hai Group, known for its work with Amazon and Apple on smart speaker production, has a strong track record in hardware manufacturing and is seen as a strong contender for such contracts. Industry insiders suggest that if Spotify ventures into hardware, various subsidiaries within the Hon Hai Group could benefit significantly from the opportunity.
Spotify continues to grow rapidly, boasting 159 million monthly active users, with 71 million of them being paying subscribers. This number surpasses Apple Music’s subscriber base, making Spotify one of the most influential players in the music streaming industry. Its upcoming U.S. IPO has therefore drawn considerable attention from both investors and analysts.
According to recent reports, Spotify generated approximately $4.99 billion in revenue last year, reflecting an annual growth rate of over 38%. Despite this impressive growth, the company still faces challenges in converting its large user base into consistent profits. Last year, Spotify reported a net loss of $1.51 billion. However, the company remains highly valued in private markets, with stock valuations ranging between $90 and $132.5 per share, giving it a potential valuation of up to $22 billion. This suggests that despite current financial struggles, Spotify is still viewed as a promising investment opportunity.
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