Last month, Spotify filed for an IPO on the NYSE under the ticker ‘SPOT’ for up to $1 billion USD. The company is now set to trade on April 3, 2018, however, under non-traditional circumstances. Unlike most IPOs, Spotify has chosen to forgo underwriters, which normally help stabilize a stock offering, as well as a lock-up period, where shareholders are prevented from selling shares. The company’s direct listing will be for current shareholders to sell. Spotify itself won’t sell any stocks on April 3 suggesting pressure to go public from private investors who want to cash out. However, according to the company’s Investor Day materials and opinion from CNBC, this move is a vote in confidence towards its valuation.