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Key people at Findaway.
Based in Cleveland, Ohio, Findaway operates as a digital audiobook distributor and self-publishing platform that connects independent authors and commercial storytellers with a vast network of global listeners. The enterprise achieved significant scale across both the physical and digital audio markets, ultimately generating more than $100 million in annual revenue while selling over 6 million units of its proprietary Playaway pre-loaded audiobook devices. This substantial market penetration and an extensive catalog of digital distribution services directly led to the company's high-profile acquisition by the global streaming giant Spotify in 2022. Following the platform's successful integration into Spotify's broader audio ecosystem, several key executives, including former leader Ralph Lazaro, subsequently spun out to launch a new independent venture called INaudio in early 2024. Findaway was originally founded in 2004 by entrepreneur and chief executive officer Mitch Kroll.
Key people at Findaway.
Findaway is a digital audiobook distribution platform founded in 2004 that revolutionized audiobook access by connecting independent authors, narrators, and publishers with global listeners and retailers.[1][2][3] It built products like Findaway Voices (author-narrator matching), Playaway (preloaded devices for libraries and schools, with over 6 million units sold), Audioworks (production services), and AudioEngine (developer tools), serving creators, libraries, schools, and platforms such as Apple, Google, Audible, and Spotify partners.[1][3] The company solved the problem of limited audiobook availability—initially confined to CDs and cassettes—by enabling digital distribution, self-publishing, and democratization, becoming the world's largest digital audiobook distributor with a catalog of 325,000 titles and nearly $300 million in lifetime revenue from its flagship products before its acquisition by Spotify in 2022.[1][3][4]
Post-acquisition, Findaway operates from its Cleveland-area headquarters under founder-CEO Mitch Kroll, supporting Spotify's expansion into audiobooks for its 381+ million users while maintaining independent services.[3][4][5] It targets indie authors seeking professional production and wide reach, libraries/schools needing durable devices, and developers integrating audiobook catalogs, capitalizing on audiobook market growth from $3.3 billion to a projected $15 billion by 2027.[5]
Findaway was co-founded in 2004 by Mitch Kroll in Solon, Ohio (near Cleveland), at a time when audiobooks were primarily sold on CDs and cassettes, limiting accessibility.[1][2][3] Kroll's vision was to democratize audiobooks by connecting storytellers with listeners at scale, launching commercially in 2005 with its first full revenue year in 2006.[1] Early focus centered on the Playaway device—a portable, preloaded audiobook player—which sold over 6 million units worldwide to libraries and schools, generating nearly $300 million in lifetime revenue and establishing initial traction.[1][2]
The company evolved through three phases over 18 years: hardware innovation with Playaway, expansion into digital distribution via partnerships with major retailers, and self-publishing tools like Findaway Voices.[1][3] Pivotal growth came from the digital shift, diverse content spurred by podcasts as a "gateway," and building a 150-person team, culminating in Spotify's acquisition announced in November 2021 and closed in June 2022.[2][3][4][5]
Findaway rides the explosive growth of spoken audio, fueled by podcasts as an entry point to audiobooks and the shift from physical media to digital streaming, diversifying audiences across ages and demographics.[2][5] Timing aligned perfectly with Spotify's audio pivot beyond music—acquiring Findaway accelerated entry into a $3.3B market projected to hit $15B by 2027, introducing audiobooks to 422M+ monthly users including 182M subscribers.[4][5]
Market forces like rising indie content creation, global retailer partnerships, and demand for diverse, on-demand audio favor Findaway's model, influencing the ecosystem by lowering barriers for self-publishers and enabling platforms like Spotify to innovate faster.[3][5] As a Cleveland "startup" even after 18 years, it inspires regional tech entrepreneurship while scaling globally under Spotify.[2]
Findaway's Spotify integration positions it to supercharge audiobook adoption, blending its distribution muscle with Spotify's user base to pioneer hybrid music-podcast-audiobook experiences and expand indie tools.[3][5] Trends like AI-enhanced narration, multimodal audio apps, and emerging markets will shape its path, potentially redefining "audiobooks" beyond traditional formats.
Its influence may evolve from niche disruptor to core infrastructure for audio publishing, fostering more diverse storytelling while sustaining Cleveland roots—echoing its founding mission to connect storytellers and listeners at unprecedented scale.[1][2][5]
