Spotify Preparing for IPO

Reports are that Spotify has confidentially filed for an IPO:

Both Silicon Valley and Wall Street are paying close attention to this one, given that Spotify is pursuing a direct listing instead of a traditional float. That 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.