SFX Entertainment Going Public with $175 Million Dollar IPO

robert-sillerman-smile

This isn’t any surprise, but it shows the stakes that the rise of EDM is taking. SFX Entertainment, which purchased both Beatport and (the North American division of) ID&T during the first half of 2013, will soon be traded over the Nasdaq. Reuters reports that SFX Entertainment “filed with U.S. regulators to raise up to $175 million in an initial public offering to fund its expansion in the fast-growing electronic dance music industry.” If that EDM money wasn’t already looking bountiful, this just upped the ante. SFX says they’ll be using “the proceeds of the IPO to fund acquisitions, working capital and general corporate purposes,” which really just means if you have a hot commodity in the EDM field, you better be ready to be bought. There’s currently no word on how much shares will be sold for, but keep an eye on it.

Maybe we should start an EDM Nasdaq trading club?