How the Spotify Acquisition Happened

Ralph Lazaro, Co-founder & CEO of INaudio, has spent more than two decades leading high-performing teams and driving innovation. His career began in Fortune 500 companies before he joined Findaway in 2012, where he helped transform the business from a physical device company into a $100M+ digital audiobook powerhouse — a journey that ultimately led to Spotify’s acquisition of Findaway.

Now, alongside Blake Squires (who shared his own remarkable entrepreneurial story on episode 206 of Lay of the Land), Ralph is carrying that story forward with INaudio, a spinout from Spotify dedicated to powering the global audiobook ecosystem as an independent company.

In our conversation, Ralph shares his decision to leave Charlotte, North Carolina, and move to Cleveland to join Findaway — and the culture that convinced him it was the right leap. He reflects on Findaway’s transformation and the lessons learned from co-founder and CEO Mitch Kroll, who shared his story on episode 128. We also discuss Spotify’s acquisition, what it was like integrating into big tech, and the launch of audiobooks to hundreds of millions of listeners. Ralph walks us through the INaudio spinout process — buying back the very business he helped grow inside Spotify — and what it’s been like stepping back into the founder’s seat.

From building a new team and intentionally shaping its culture around past lessons and personal philosophies, to navigating the evolving audiobook industry with new competitors and technologies, Ralph offers thoughtful insights into INaudio’s mission as “the world’s audiobook partner.” He also reflects on entrepreneurship, Cleveland as a place to build, and how his definition of success has evolved.

Ralph brings incredible energy, humility, and earned wisdom to this conversation, and I’m grateful to share it with you.

00:00:00 - The Findaway Journey Begins
00:08:42 - Transitioning from Spotify to Findaway 2.0
00:16:53 - Exploring Opportunities in Audio
00:24:31 - The Evolving Audiobook Landscape
00:35:55 - Navigating Leadership Transitions
00:41:47 - Lessons from Spotify
00:46:56 - Optimizing for Growth
00:54:25 - The Future of Audiobooks
01:03:14 - The Importance of Leadership in Career Growth
01:04:40 - Hidden Gem

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LINKS:
https://www.linkedin.com/in/ralph-lazaro/
https://www.inaudio.com/

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Past guests include Justin Bibb (Mayor of Cleveland), Pat Conway (Great Lakes Brewing), Steve Potash (OverDrive), Umberto P. Fedeli (The Fedeli Group), Lila Mills (Signal Cleveland), Stewart Kohl (The Riverside Company), Mitch Kroll (Findaway — Acquired by Spotify), and over 200 other Cleveland Entrepreneurs.

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