With so many streaming services available, it’s no surprise that Spotify is one of the most popular. But does Facebook own Spotify? While the two companies have had a long-standing partnership, the answer is no.
Spotify was founded in 2006 and launched its streaming service in 2008. It quickly became the go-to for music streaming, and as of 2020, has over 286 million users worldwide. As it continued to grow, Facebook saw an opportunity to partner with them in 2011.
The two companies have since shared data and integrated their services, with Facebook allowing users to share songs from Spotify on their profiles, and Spotify integrating its service into Facebook’s Messenger app. However, despite their close relationship and integration of services, Facebook does not own any part of Spotify.
Marketed as a “music streaming giant” by The Verge and other media outlets, Spotify is actually a private company that is owned by multiple private investors who control its board of directors. This includes founders Daniel Ek and Martin Lorentzon as well as major shareholders such as Tiger Global Management LLC and Goldman Sachs Group Inc.
While Facebook has been involved with the company since 2011, it has never acquired or held any shares in the company—nor does it plan to do so in the future. This means that while both companies are connected through partnerships and shared data integration, they remain two separate entities for now.
Conclusion:
In conclusion, while there is a close relationship between Facebook and Spotify due to data sharing and integration of services, Facebook does not own any part of Spotify or hold shares in the company. The streaming giant remains owned by its various private investors who control its board of directors.