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Although we have previously employed extra staff to comply with these prerequisites, we may want to seek the services of more employees in the long term, which will improve our expenditures and fees. Therefore, the focus of voting electrical power between our founders may have an adverse result on the price tag of our normal shares. We might difficulty more beneficiary certificates beneath the total approved sum at the discretion of our board of administrators, of which our founders are associates. As a result of this possession or handle of our voting securities, if our founders act with each other, they will have handle in excess of the outcome of substantially all issues submitted to our shareholders for approval, which include the election of administrators. As of December 31, 2018, our founders, Daniel Ek and Martin Lorentzon, beneficially owned or controlled, immediately or indirectly, everyday shares and beneficiary certificates representing 34.6% and 43.3% of the blended voting electric power of all of our outstanding voting securities, respectively (or 77.9% in the mixture)

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