Deezer has confirmed last week’s speculation that it intends to go public via a SPAC merger with fellow French company I2PO.
The companies told the Wall Street Journal that the merger is aiming for a €1.05bn ($1.13bn) valuation for Deezer.
They also provided some new stats on Deezer’s business, claiming that the streaming service generated €400m ($432m) of revenue in 2021, and that it has 9.6 million subscribers.
The latter is a useful figure: until now Deezer has only said that it had 16 million monthly active users.
The company also told the Wall Street Journal that most of its existing investors will retain stakes in Deezer once it goes public, including Access Industries, UMG, Sony, Kingdom Holding Co and Orange.