Latest / The Startup Exit Podcast with Fexingo: IPOs, Acquisitions, and Founder Liquidity Events
How the Spotify Model of Direct Listing Reshaped Founder Exits
When Spotify went public via a direct listing in 2018, it was seen as a rebellion against the traditional IPO. But eight years later, the 'Spotify model' has quietly become the blueprint for a new wave of high-profile exits. In this episode, Lucas and Luna break down how direct listings evolved from a one-off experiment into a legitimate liquidity tool for founders, using recent data from Spotify's own post-listing performance and a fresh 2026 example: the AI infrastructure startup CoreWeave, which filed for a direct listing in March. They explore why founders are choosing…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.