1. Ed Sheeran - x | 2. Justin Bieber - Purpose | 3. The Weeknd - Beauty Behind the Madness | 4. Calvin Harris - Motion | 5. Calvin Harris - 18 Months | Source: Spotify
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As the popular music streaming service goes public today, Spotify is set to continue to revolutionize the music business. But who ultimately profits?
Shares in the Swedish music-streaming platform made a strong market debut on Wall Street, opening at $165.90 — well above the reference price of $132 a share and valuing the company's equity at about $29 billion.
Music streaming service Spotify decided to forego a big advertising campaign and the tradition of ringing the opening bell at its IPO today, but it catched the public attention regardless. Investors awaited the stock market debut with a mix of exitment and caution.
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