Spotify's IPO in New York Puts European Tech Sector in Spotlight


PARIS—The market has spoken: Europe is home to the globe’s newest tech giant.

European tech investors and executives cheered Wednesday after Spotify Technology SA burst onto the public markets Tuesday in New York with a valuation above $26 billion. That made the Swedish firm one of the largest tech companies in Europe and represented one of the best public trading debuts for any tech firm.

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