Spotify is one of the most popular music streaming platforms available, and has been a major player in the industry since its launch in 2008. As such, many people are curious to know if Spotify is privately owned or not. The answer is yes – Spotify is privately owned.
Spotify was founded by Daniel Ek and Martin Lorentzon in 2006. The two Swedish entrepreneurs wanted to create a platform that would make it easier for people to access and share music, and the idea for what would become Spotify was born. It took two years for them to develop the platform, and Spotify was officially launched in October 2008.
Since then, Spotify has become a major player in the streaming industry, with over 200 million active users worldwide. It’s estimated that more than 60 million of those users are paying subscribers. This success has made Daniel Ek and Martin Lorentzon very wealthy individuals; however, they remain the main owners of Spotify.
Spotify is currently owned by three companies:
- Spotify Technology S.A.: This company is based in Luxembourg and holds the majority stake in Spotify (76%).
- Tencent Music Entertainment Group: This Chinese-based company owns 9% of Spotify.
- The Founders: Daniel Ek (CEO) and Martin Lorentzon (Chairman) still own 15% of their creation.
In addition to these three companies, there are also several venture capital firms that have invested in Spotify over the years, including Goldman Sachs, Accel Partners, Kleiner Perkins Caufield & Byers, Founders Fund, and more. These firms have contributed significantly to the growth of Spotify since its inception.
Conclusion
So, to answer our original question – yes, Spotify is privately owned. It’s currently held by three companies: Spotify Technology S., Tencent Music Entertainment Group, and The Founders (Daniel Ek & Martin Lorentzon). There are also several venture capital firms that have invested in Spotify over the years.