How Is Pandora Doing? Well, It's Tough Out There
The Internet radio (and now on-demand streaming) service has $150 million coming from a private equity firm, as long as nobody wants to buy it for a fair price.
On Monday, the Internet radio pioneer Pandora, one of the oldest music tech companies still humming, announced its first-quarter financial results. Like most of its brethren, the company both makes and loses a lot of money — it reported $132 million in net losses this quarter alone, but also announced a new $150 million round of financing and a shakeup of its board. Oh, and that financing requires the company explore all feasible avenues to sell itself off before
