So says Pandora founder Tim Westergren, in a story in today’s VentureWire about the streaming music company’s growth efforts along with its VC investments. Pandora has raised $64 million since its start nine years ago. No word on whether those revenues will make it profitable this year, though the company has previously said it intends to become one by next year, following a favorable streaming royalties settlement earlier this summer. The story also goes into some details about Pandora’s freemium strategy, and how the previous round VC Crosslink Capital General Partner Jim Feuille helped shaped it, beyond an earlier move to only charge for subs.
Now that it has a big audience online and through its mobile apps—30 million registered users—is plans to add more subscription options beyond its $36 a year Pandora One service: heavy users beyond 40 hours a month will have to pay 99 cents to keep listening for the rest of the month.
By Rafat Ali