Deezer preparing IPO
Deezer, the French global digital music streaming service, is understood to have decided to list on the Euronext Paris stock exchange, assisted by BNP Paribas, French daily Le Figaro reported. The unsourced report said that Deezer, with 6m paying subscribers, could be valued at around EUR 1bn.
This development was also reported in daily Les Echos, which noted that Deezer could list by the end of the year and was worth EUR 300m in 2012. The company reported sales of EUR 142m in 2014 with an operating loss of EUR 22m, and aiming to generate revenues of EUR 750m by 2018.
According to the report, Deezer is 25% owned by Access Industries, 20% by Universal Music, Warner, and Sony Music jointly, 10% by IDInvest, 10% by Orange, and 10% by its founders.
Le Figaro, Les Echos