Spotify Did Not Buy Mavin’s Record – Don Jazzy Reveals

According to a story published on April 1st, Mavin Global, the parent business of Mavin Records, had been acquired by Spotify, the music streaming juggernaut, for upwards of $70 million.

The article did say at the end that it was a joke, and that it was put together in honor of April Fool’s Day, which is generally a day dedicated to pranks. Remember how we kicked off April Fool’s Day last year by revealing a spoof African-themed album from Jay-Z featuring African artists like Femi Kuti, Olamide, and Sarkodie?

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The claim was staged as an April Fool’s joke, and both Mavin Global and Mavin Records are still owned by Michael Collins Ajereh, better known as Don Jazzy.

It is a known truth, however, that the firms are affiliated with Kupanda Holdings, a joint venture between Kupanda Capital, a pan-African investment organization, and TPG Growth, a worldwide private equity firm that has invested in multinational companies, including Mavin Records.