The smaller European service projects growth on the back of B2B partnerships
Alex Wilhelm
9 hours
In an expected move, European music streaming company Deezer announced plans yesterday to go public via a French SPAC.
The deal values the company at a pre-money equity valuation of €1.05 billion and at €1.08 billion in enterprise value terms. Notably, those prices are similar to those at which Deezer last raised known external capital, a €160 million round in 2018 at a valuation of €1.0 billion on a post-money basis.
Naturally, with Spotify battling Apple Music for global music streaming ascendancy, and rivals Amazon, YouTube, and others competing for market share, you might have forgotten about Deezer, especially if you are not located in Europe. Still, the deal is happening, and that means we’ve been given a sheaf of information about the company.
The Exchange procured the company’s release and investor presentation. Let’s parse the data and see what the economics of a smaller music streaming business look like today.
Inside the Deezer SPAC
Starting with some top-level numbers, Deezer had 9.6 million subscribers at the end of 2021, leading …
