Spotify, the world’s leading music streaming service, has been around since 2008, and has seen its share of ups and downs throughout the years. The company has had a tumultuous history, with multiple changes in ownership and leadership. But who owns Spotify now?
Spotify was founded in April 2008 by Daniel Ek and Martin Lorentzon. The two entrepreneurs wanted to create a digital music platform that would enable users to access high-quality music on demand. Since then, Spotify has grown to become one of the world’s most popular streaming services, with more than 217 million monthly active users in 79 countries.
In 2011, Spotify raised $100 million from venture capitalists Accel Partners and Kleiner Perkins Caufield & Byers. This funding round valued the company at over $1 billion, making it one of the first startups to achieve “unicorn” status. In 2012, Goldman Sachs invested an additional $85 million into the company.
In 2013, Spotify was acquired by media conglomerate Liberty Media for $2 billion. Liberty Media is owned by John Malone, who is known as the “Cable Cowboy” for his pioneering work in cable television and broadband services in the United States. Liberty Media had previously held a stake in Pandora Media Inc., a rival streaming service to Spotify.
In 2017, Ek and Lorentzon repurchased 50% of their shares from Liberty Media for $1 billion. This move gave them majority control of the company once again and further cemented their status as billionaires.
Today, Ek and Lorentzon are still majority owners of Spotify with 57% of voting rights between them – they also own an additional 8% through their investment vehicle Oresund Ventures – while Liberty Media holds 36%. The remaining 7% is held by other investors such as Goldman Sachs and Accel Partners.
Conclusion: Daniel Ek and Martin Lorentzon are currently the majority owners of Spotify with 57% voting rights between them; while Liberty Media holds 36%, with other investors such as Goldman Sachs holding 7%.