Spotify's CEO wasn't around to ring the bell when Spotify opened on the New York Stock Exchange on Tuesday morning. That's because Spotify debuted in a self-acknowledged "risky" move, and CEO Daniel Ek doesn't want to get too excited about what he sees as "the second inning" of the streaming app's journey.
On Tuesday, SPOT became the biggest company to open without an IPO, TechCrunch reported. That means Spotify didn't set an initial public offering for investors to buy new stocks in the company. Instead, only Spotify insiders who owned stocks before the company went public could sell them Tuesday.
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