Season 2, Episode 6: Spotify’s Direct Listing
Acquired
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Ipo
The company has a very nice cash fulo dynamic, where their subscribers pay them up front every month a the ten dollar, ten uro a month subscription fee. They have a positive or a negative, working cash flow cycle that allows them to be cash flow positive, even if they're not net income positive. We'll get into the business model and in a minute, in narratives, but at the very least, it's incredibly low margin business relative to a lot of these other technology behemoths.
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