Instead, it is selling shares now help by its private investors and although this may save them some money, it ultimately makes the entire process volatile.
He believes Spotify is in a sweet spot because of its pure focus on music. Facebook did it with competitor Instagram, Apple has done it with Beats. In all it's years in operation, the streaming service has never actually reported any earnings.
In fact, it has lost more than €2.4 billion (£2.1bn) over that period.
Spotify Technology SA shares surged following the largest-ever direct listing on Tuesday, giving the world's leading streaming music service a market value of almost $30 billion. The music streaming service had to reduce its tally of total users by 2m (to 157m), after discovering a number of people were fraudulently supressing ads without paying for the Premium ad-free service.
Few prominent Western artists still refuse to stream on Spotify other than rap mogul Jay-Z, who runs his own fledging rival Tidal, and his wife Beyonce.
A Spotify music label, big music events (Spotify's version of Glastonbury anyone?) and a video production house could follow. "The company's core competency is music". But Spotify is already well known and doesn't need those types of introductions, she said. "They have to work together".
As The Guardian points out, investor interest in Spotify will directly correlate with the trust investors have in the company.
While Spotify has some bank advisors, a direct listing allows it to trade on an exchange without all the regulatory hassles and expensive bankers that are the hallmarks of the traditional IPO. The company sells a set amount of new or existing shares to a group of large institutional investors, such as pension funds, for a pre-agreed price.
That won't happen with Spotify.
On Tuesday, April 3rd, dominant music sharing application Spotify began its first official day of being traded as a public entity.
One equity capital markets banker at a major firm, which was not on the direct listing, said their syndicate desk had been instructed to ask investors for feedback following the Spotify listing.
That's because most big investors in the Spotify sale are not subject to so-called lockup agreements.
The objective will be to give the bank color to take into pitch meetings with prospective clients if the direct listing is considered a success.