Spotify is now valued at $13 billion, sources tell CBC. According to the same source, the service, which had reportedly been considering a direct listing, will indeed take that unconventional route in its IPO, which is expected between the fourth quarter of 2017 and Q1 of next year.

On 2/2, a source told TechCrunch that some inside Spotify had hoped to target a valuation between $11 billion and $13 billion in a public offering—an “emotional target” in his words. It appears the Daniel Ek and company have hit the bull’s-eye.

But who are these "sources" that continue to favorably advance the narrative?