The company, with more than 71 million subscribers, is not raising any money through the IPO.
Spotify is based in Stockholm, Sweden; not Switzerland.
Spotify, which has not posted a profit since the service launched in 2008, said unfavorable exchange rates were the main reason for the growth slowdown.
"While tomorrow puts us on a bigger stage, it doesn't change who we are, what we are about, or how we operate". Spotify offers access to vast libraries of music rather than making users pay for CDs or downloads of individual albums or tracks.
Spotify signs its first US licensing deals with major record labels, which had previously restricted contracts to experiments in overseas markets.
Ek said he isn't concerned about the competition - for now.
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"We are about twice the size of [Apple] so I think we've still got some room and I'm very happy with the growth that we're seeing in our business".
"This won't be replicated often", Matt Kennedy, an analyst with Renaissance Capital, told CNN. Alphabet Inc's Google does not release paid subscriber numbers for Google Play Music.
"Apple is growing faster than Spotify and has a different business model whereby music does not have to be profitable on a standalone basis", he said.
Still, the company isn't profitable. 2015 saw 1.94 billion Euros in revenue (about $2.38 billion). The company has said it pays almost 70 percent of its revenue to the music community.
Spotify is now a publicly traded company. That makes it hard for investors to know if the listing will be a hit with investors or a total flop. Additionally, while traditional IPOs feature executives on the trading floor to ring the bell and speak with reporters on why the stock is a worthy investment, Spotify's team was absent from the NYSE. Instead, it is selling shares now help by its private investors and although this may save them some money, it ultimately makes the entire process volatile. Experts warned of some major volatility though due to Spotify's unusual 'direct listing'.
There was concern such a listing could make for a volatile entry into the public market. That compared with the reference price, an early estimate of the level at which supply and demand could be balanced, set by NYSE late on Monday at $132.
"The whole thing is going to be a surprise".