Drake Star Partners' Gregory Bedrosian Was Interviewed by BBC World News to Discuss Spotify’s Direct NYSE Listing

On April 3^rd, 2018, Drake Star Partners' Managing Partner & Co-CEO Gregory Bedrosian was interviewed by BBC World News to comment on Spotify’s recent direct listing on the New York Stock Exchange.

BBC World News’ Business Briefing on the company’s direct listing featured a wide range of expert views, ranging from artists, music industry experts and academics, to Drake Star Partners’ Gregory Bedrosian as the technology, media and communications investment banker.

During his interview, Mr. Bedrosian went on to explain the key differences between a traditional IPO and a Direct Listing. He said:

“Normally in an IPO, management and inside shareholders are restricted from selling shares for a period of time after the listing. In a direct sale they can actually sell immediately, so it provides more liquidity.”

Spotify (NYSE: SPOT) decided to go for a direct listing, which means it sold its existing shares directly to the public without raising any new capital. The music-streaming service is currently trading at a market capitalization in excess of $20 billion.

You may read more on Gregory Bedrosian’s interview by accessing this article on the BBC’s website.