Pandora Explores Sale After Securing $150 Million

Pandora Explores Sale After Securing $150 Million

Pandora, which dominates Internet radio but has seen its model eclipsed by music streaming companies such as Spotify, said Monday it was open to buyers after securing a fresh $150 million (roughly Rs. 968 crores). Jim Feuille, the chairman of Pandora’s board who a decade earlier pushed the model of free access, stepped down with the announcement that private equity firm KKR was injecting $150 million. “Having secured a significant financial commitment from KKR to strengthen the company’s balance sheet, we have positioned the company to evaluate any potential strategic…

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