You will be redirected back to your article in seconds

Spotify Founders to Sell Another $100 Million in Shares

Spotify’s founder Daniel Ek and Martin Lorentzon have signaled their intention to sell more shares in the company, according to the Swedish publication Di Digital, citing SEC filings registered Oct. 1 and 2 that were not available digitally at press time.

When the most recent sale is completed, the pair will have sold approximately $221 million in stock of the company they founded in 2006.

According to the report, Ek sold 336,213 shares $61.7 million worth of stock between July and September, and late last month signaled his intent to sell another $69.9 million sold in July–September for a total of $61.7 million.

Lorentzon sold 317,800 shares between July and September for a total of $58.7 million, and in mid-September declared his intent to sell another 174,250 shares for $31.8 million.

“Daniel will sell a small share of Spotify shares in the next nine months as part of his long-term financial strategy. This sale of shares will constitute a minimal part of his holding in the company,” Spotify rep Sofie Grant told the paper. Ek and Lorentzon declined comment.

The pair still own a large percentage of the company: The sale decreases each of the founders’ total holdings in the company by approximately half a percentage point: Ek’s goes from 8.8% to 8.3%, while Lorentzon’s drops from 12.2 to 11.8. Lorentzon remains the company’s top shareholder and Ek its third, with Tencent, which acquired 10% of the company in a stock swap late last year, at No. 2

 

More Digital

  • Sean Hannity

    Laura Ingraham, Sean Hannity Prepare Programs for Streaming-Video Fox Nation

    Spotify’s founder Daniel Ek and Martin Lorentzon have signaled their intention to sell more shares in the company, according to the Swedish publication Di Digital, citing SEC filings registered Oct. 1 and 2 that were not available digitally at press time. When the most recent sale is completed, the pair will have sold approximately $221 […]

  • Steve Cousineau, Sarah Amos, Robin Chacko

    Hollywood's New Leaders 2018: Digital

    Spotify’s founder Daniel Ek and Martin Lorentzon have signaled their intention to sell more shares in the company, according to the Swedish publication Di Digital, citing SEC filings registered Oct. 1 and 2 that were not available digitally at press time. When the most recent sale is completed, the pair will have sold approximately $221 […]

  • Facebook Logo

    Lawsuit Alleges Facebook Duped Advertisers, Publishers With Inflated Video Stats

    Spotify’s founder Daniel Ek and Martin Lorentzon have signaled their intention to sell more shares in the company, according to the Swedish publication Di Digital, citing SEC filings registered Oct. 1 and 2 that were not available digitally at press time. When the most recent sale is completed, the pair will have sold approximately $221 […]

  • Barack Obama speech Trump win

    Barack Obama Launches Video on ATTN: Channels Urging Young Americans to Vote (Watch)

    Spotify’s founder Daniel Ek and Martin Lorentzon have signaled their intention to sell more shares in the company, according to the Swedish publication Di Digital, citing SEC filings registered Oct. 1 and 2 that were not available digitally at press time. When the most recent sale is completed, the pair will have sold approximately $221 […]

  • Tastemade logo

    Tastemade Raises $35 Million in Funding From Investors Including Amazon

    Spotify’s founder Daniel Ek and Martin Lorentzon have signaled their intention to sell more shares in the company, according to the Swedish publication Di Digital, citing SEC filings registered Oct. 1 and 2 that were not available digitally at press time. When the most recent sale is completed, the pair will have sold approximately $221 […]

  • A trading post sports the Spotify

    Spotify Acquires Stake in Distrokid, Tightening Squeeze on Indie Distributors

    Spotify’s founder Daniel Ek and Martin Lorentzon have signaled their intention to sell more shares in the company, according to the Swedish publication Di Digital, citing SEC filings registered Oct. 1 and 2 that were not available digitally at press time. When the most recent sale is completed, the pair will have sold approximately $221 […]

  • Logan Paul THE THINNING_ NEW WORLD

    Logan Paul Gets YouTube Reprieve for 'The Thinning' Movie Sequel, Releasing Today

    Spotify’s founder Daniel Ek and Martin Lorentzon have signaled their intention to sell more shares in the company, according to the Swedish publication Di Digital, citing SEC filings registered Oct. 1 and 2 that were not available digitally at press time. When the most recent sale is completed, the pair will have sold approximately $221 […]

More From Our Brands

Access exclusive content