Apple, Amazon and Google are all in the music streaming game, all with direct hardware with which to serve its users music.
Here's how the company outlined the state of its company on Wednesday: "Our current and future competitors may have higher brand recognition, more established relationships with music and other content licensors and mobile device manufacturers, greater financial, technical, and other resources, more sophisticated technologies, and/or more experience in the markets in which we compete." It went on to point out that Apple and Google, its main threat, have incredible control.
Take Netflix, a company that saves millions by creating its own content, therefore avoiding the need to negotiate deal-after-deal to bring shows to different markets around the world.
The so-called Netflix Originals now form the bedrock of Netflix's popularity, and there's no reason why Spotify couldn't do the same with music.
This IPO marks the second "David" tech company to go public in the past 12 months.