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Therefore, the concentration of voting electricity among the our founders could have an adverse outcome on the selling price of our standard shares. The investing selling price of our regular shares has been and is probable to keep on to be unstable. However, we are not able to guarantee you that an lively, liquid, and orderly trading market for our ordinary shares will be sustained, which could have an effect on your skill to market your standard shares. Because of their considerable possession of our common shares and beneficiary certificates, our founders have substantial management over our company, and their interests could differ from our interests or all those of our other shareholders. As of December 31, 2018, our founders, Daniel Ek and Martin Lorentzon, beneficially owned or controlled, right or indirectly, regular shares and beneficiary certificates representing 34.6% and 43.3% of the mixed voting ability of all of our exceptional voting securities, respectively (or 77.9% in the mixture). Although we at present are not thought of to be a "controlled company" underneath the NYSE company governance principles, we may well in the long run turn out to be a controlled corporation thanks to the focus of voting electrical power amid our founders ensuing from the issuance of beneficiary certificates

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