Lorentzon’s Rosello holding company made the disclosure with the SEC under the agency’s Rule 144, which stipulates that affiliates of any securities issuer file documentation about stock sales that exceed 5,000 shares or units or have an aggregate sales price of $50,000 or more. Universal Music Group still retains ownership of its 3.5% stake in Spotify. Michael Mignano, co-founder of Anchor and Spotify’s podcasting tech chief for the past three years, submitted his resignation last week, the company confirmed Monday. In addition, Sony Music Entertainment sold 50% of its shares in Spotify in the first month after the company’s shares were publicly listed and the music company has shared the $750 million it netted from the sale with its artists and labels.Įarlier this month, Warner Music Group announced that it sold its Spotify shares to reap $504 million (and WMG also shared the proceeds with artists and labels).

that would make Spotify worth more than 2 billion USD and its cofounder Ek. Editor's note: The closing price for Spotify has been updated and corrected to say 149.01. By January 2012 Spotify had racked up 10 million active users who could. Meanwhile, Spotify CEO Ek made his first post-IPO sale about a month ago - in a transaction worth just under $10 million - while he also registered intent to sell stock worth $80 million over a year-long period, per Di Digital. Other investors include Napster cofounder Sean Parker, and Hong Kong’s richest man, Li Ka-shing.

Cofounder of spotify