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Company Specialist
Gregory Dietrick West Shore Advisors, Inc.
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Pandora
Pandora is an online radio company that specializes in matching the “genome” of a song’s sound to other songs. With a team of 50 music analysts that have spent countless hours matching songs to each other, Pandora has successfully created a music-listening experience that will ensure users hear exactly the type of sound they like in their music. Their Music Genome Project has created 400 independent musical characteristics as separate sub-genres for over 600,000 songs. Users can create 100 unique “stations” that will be dynamically… more
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Company Overview
Pandora is an online radio company that specializes in matching the “genome” of a song’s sound to other songs. With a team of 50 music analysts that have spent countless hours matching songs to each other, Pandora has successfully created a music-listening experience that will ensure users hear exactly the type of sound they like in their music. Their Music Genome Project has created 400 independent musical characteristics as separate sub-genres for over 600,000 songs. Users can create 100 unique “stations” that will be dynamically refined with the user’s specifications.
Pandora has three main revenue streams – premium subscription plans with no ads and unlimited listening cost $36 per year, display and audio advertising, and in-car listening access through subscription. Despite paying 70% of its revenue in royalties, Pandora claims its revenues will double to $40 million and profitability status will be reached in 2010.
Pandora has reportedly raised more than $56 million in funding from Crosslink Capital, Hearst Strategic Investments, JPMorgan Chase, Labrador Ventures, Piper Jaffray, Selby Venture Partners, WaldenVC, Garage Technology Ventures, and Arca Group.
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CEO:
Joe Kennedy
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HQ:
Oakland, CA
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Capital Raised:
$56.3M
Financings
- Series: E
- Type: Later Stage - 5th
- Date: June-2009
- Stock: Preferred
- Total Investment: $35,000,000.00
- Investors:
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- Undisclosed Venture Investor(s)
- Series: D
- Type: Later Stage - 4th
- Date: June-2006
- Investors:
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- Crosslink Capital
- Hearst Strategic Investments
- JPMorgan Chase
- Labrador Ventures
- Piper Jaffray
- Selby Venture Partners
- WaldenVC
- Funds:
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- Bay Area Equity Fund
- Crosslink Crossover Fund IV LP
- Crosslink Ventures IV
- Labrador Ventures V LP
- Selby Venture Partners II LP
- Series: C
- Type: Later Stage - 3rd
- Date: October-2005
- Stock: Preferred
- Total Investment: $12,000,000.00
- Investors:
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- Crosslink Capital
- Labrador Ventures
- Selby Venture Partners
- WaldenVC
- Funds:
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- Crosslink Crossover Fund IV LP
- Crosslink Ventures IV
- Labrador Ventures V LP
- Selby Venture Partners II LP
- WaldenVC II LP
- Series: B
- Type: Second Round
- Date: March-2004
- Stock: Preferred
- Total Investment: $8,000,000.00
- Investors:
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- Arca Group
- Labrador Ventures
- Selby Venture Partners
- WaldenVC
- Funds:
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- Selby Venture Partners II LP
- Series: A
- Type: First Round
- Date: March-2000
- Stock: Preferred
- Total Investment: $1,300,000.00
- Investors:
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- Garage Technology Ventures
- Individual Investors
Round 5
Round 4
Round 3
Round 2
Round 1
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