Social Media

Pandora Gets More Funding

image from Pandora  has raised an undisclosed amount of new funding, according to a statement from the company.  This round was led by GGV Capital along with Allen & Company.  Pandora had previously raised $56.3 million.

Pandora is hugely property and one of the few music 2.0 companies that can claim profitability, but it appears to be a tenuous victory.  CEO Tim Westergren has said publicly that Pandora earned $50 million last  year, mostly from advertising. But even after a new deal was announced last year, royalty payments to SoundExchange were $28 million plus payments to publishers and operating costs.

Attracting even more users to drive more advertising appears to be Pandora's most direct path to long term success. 

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