It wasn't about raising money - they had their hand forced by the last round of debt/equity deal that they did: https://www.recode.net/2018/1/3/16847786/spotif

It wasn't about raising money - they had their hand forced by the last round of debt/equity deal that they did: https://www.recode.net/2018/1/3/16847786/spotify-tpg-tencent-debt-dragoneer-ipo-music-streaming https://www.recode.net/2018/1/3/16847786/spotify-tpg-tencent... Not that it is a great article but honestly that looks like a very messy transaction. It also looks like Spotify got the raw end of that deal. The whole thing is just crazy and I'm not sure how anyone can make sense of those numbers.