Deezer famously abandoned its plans for an IPO in 2015, blaming “market conditions”. Now it may be ready for another crack at going public.
Not through an IPO however: this time the plan is reportedly a ‘SPAC merger’, which has become an increasingly popular way for tech companies to list publicly.
The Wall Street Journal reported the news, suggesting that French SPAC I2PO is the company in the frame for a merger that could be announced as soon as this week.
Any valuation target for the new company has not been announced, but in 2020 Deezer claimed that it was worth $1.4bn after an investment from Mexican broadcaster TV Azteca.
The company says it has 16 million monthly active users, and recently appointed a new CEO, Jeronimo Folgueira, who has experience of leading a public company from his previous job at Spark Networks. Folgueira recently told Music Ally about his ambitions for Deezer in an episode of our podcast.