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Savage Beast Technologies & Music Genome Project Founded
Tim Westergen brainstorms and comes to the conclusion to produce a website that harbors a collection of music based on the user's preference. -
1st Funding From Investors
Angel investors provide Pandora Media Company with a $1.5 million investment. -
The First 50!
Pandora hires 50 new employees, however the company begins to experience some financial issues. As a result they consequently skip payroll. -
Success
Pandora implement in-store kiosks in stores like AOL Music & Best Buy to test drive their idea and to introduce their idea to consumers. -
Pandora Nearly Folds
As a result of the regularly skipped payroll, former employees sues Pandora Media Company for backpay. This puts Pandora Media Co. in a detrimental financial bind. -
Walden Venture Capital to the Rescue!
Walden Venture Capital invests $9 million in Pandora Media Company which enables Pandora to repay its former employees and frees the company from debt. -
Pandora Launches Online
Pandora Media Company launches the Pandora website online. -
Pandora Sells Their First Ad
To keep a steady income, Pandora officials decide to sells ads. -
Pandora's Hot
Pandora marks 75 million users. -
New Milestone
-200 million users
-140 million mobile users
-70 million active users
-2.5 million paid users
-8% share of all US radio listening
-100,000 unique artists
-1 million unique songs -
Pandora buys out KXMZ-FM
Pandora buys KXMZ-FM located in Rapid City, SD with the mission of paying lowering royalty rates compared to that of their competitors. -
Royalties Increase
Pandora's costs triple after the federal board increases the price of royalties. This causes the comapny to nearly go bankrupt, however they react with political intelligence.