PARTNERING UP: The deal for a 1.4% stake in Spotify comes just days after Apple, the world's most valuable company, launched a music streaming service at a price similar to Spotify's, muscling into a market already teeming with competition.
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 tradable by investors.
