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Digital
Pandora secure new investment
By CMU Editorial | Published on Thursday 3 June 2010
Pandora has just undertaken another bout of fundraising, according to Digital Music News. Money types GGV Capital have reportedly secured new investment to keep the US-based online music service in the money.
Tim Westergren’s Pandora – a personalised online radio service of course – is seen by many as one of the few stable companies in the streaming-music space, it having out-lived numerous rivals and upstarts, and having claimed profitability last year.
That said, like most streaming music services, Pandora’s licensing costs remain high and profit margins tight, which may mean the latest round of investment is designed to buy security rather than to fund any major expansion.
