Some other key shareholders of the Spotify company include Baillie Gifford & Co., Morgan Stanley, T. Cofounder Martin Lorentz, on the other hand, owns 10.9% (20,988,551) of the total ordinary shares and possesses 42.9% of the voting power.

Daniel Ek, who is also the chief executive officer of the company, owns 16.7% (32,323,633) of the total ordinary shares and possesses 31.9% of the voting power. While there are shareholders who own stakes in the company, the founders still retain the highest amount of shares. Spotify is still primarily owned by its founders, Daniel Ek and Martin Lorentzon. Currently, Spotify operates in over 180 countries and has over 400 million subscribers. headquarters is located in New York City. Since then, Spotify has expanded its operations in the United States and its U.S.

In July 2011, Spotify was launched in the United States market, and it started to compete with other big music streaming services. In February 2009, Spotify released its free service for public registration in the United Kingdom, however, it had to halt this service because of the large number of registrations following the release of a mobile application. Spotify was launched on 7th October 2008 and its services were only available by invitation only to a few European countries such as the United Kingdom, Spain, Sweden, France, Norway, and Finland. The name, Spotify, is a portmanteau of the words “spot” and “identify”.Īlthough Spotify was founded in 2006, it did not launch until two years later. Spotify was created to help deal with the problem of music piracy, which used to cost the music industry millions every year. Spotify was founded on 23rd April 2006 in Stockholm, Sweden, by a Swedish billionaire entrepreneur and technologist, Daniel Ek, and his partner, the cofounder of Tradedoubler, Martin Lorentzon.

Spotify for artists customer service