CHATTER AWAY: Overnight Open Thread

Tonight’s starter comes via Billboard:

As Spotify prepares to officially become a public company via a direct listing on the New York Stock Exchange tomorrow (April 3), many of its early investors will be enjoying a happy return.

But buried among more visible investors like Sean Parker and Shakil Khan is a lesser-known stakeholder that’s been key to Spotify’s evolution: Coca-Cola, whose minority investment as part of a 2012 round of funding also included Goldman Sachs and Fidelity Investments.

Reported to be worth $10 million at the time, Coca-Cola’s investment — at a time when Spotify’s valuation was reported at $3 billion — is expected to be worth a multiple as high as 10 to 15 times its initial value ($100 million-$150 million) by the time Spotify lists tomorrow.