> those loans are scary Yeah, they had better IPO soon.

I don't know for sure why they went with such onerous terms but I think that they thought they were growing fast enough and would IPO this year. It turns out that that won't be the case [0], since they still have some deals to make with record labels and others. They have Apple on their heels. I like Spotify a lot but I don't think there prospects are good.

[0] https://techcrunch.com/2017/02/02/sources-spotify-may-delay-...