The New York Stock Exchange welcomed Spotify for the streaming giant's initial public offering on Tuesday. But instead of greeting one of the tech world's crown jewels with all sorts of meticulous preparation, the NYSE made an embarrassing mistake.
While a massive Spotify banner was unveiled in front of the NYSE building's facade on Wall Street, the Stockholm-based company's very big day was heralded by the wrong country's flag. Passerby were struck by the presence of Switzerland's flag, when in fact Spotify is a company from Sweden -- a separate country with no discernible cultural similarities or shared border with Switzerland.
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The stock exchange took full responsibility for the snafu, complete with a joke referencing Switzerland's role as a neutral player in many international affairs.
After the NYSE let the errant flag fly for about 15 minutes, per reports, it was removed and replaced with the appropriate Swedish colors of yellow and blue:
Despite the false flag, Spotify is hitting the trading floor at nearly $30 billion in value today. It is still a Swedish company.
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