Spotify's Founders Aren't Giving Up Control Any Time Soon
- Daniel Ek and Martin Lorentzon said to own super voting shares
- Facebook, Alphabet founders keep control with similar setups
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Spotify’s co-founders are taking a page from the Google-Facebook playbook, with plans to maintain control over the music service after its stock listing by holding shares with super voting power, according to three people with knowledge of the matter.
Chief Executive Officer Daniel Ek and Vice Chairman Martin Lorentzon own a class of stock that assures their hold on the company after the shares begin trading, said the people, who asked not to be identified because the terms aren’t public. Another class will be tradeable by investors.