Pandora just bought a failing competitor for $75 million

[Guest]

Pandora announced Monday that it would buy key assets from embattled streaming competitor Rdio for $75 million in cash.

 

Rdio was once valued at $500 million, and it will shut down after the sale.

 

Pandora CEO Brian McAndrews hinted that his company bought technology and intellectual property from Rdio so it could compete with the likes of Spotify in the area of on-demand streaming.

 

“Whether streaming through radio, on-demand or in-person at live events, Pandora is building the definitive source for fans to discover and celebrate music,” Andrews said in an announcement.

 

On-demand has been a key piece of the puzzle Pandora has been missing, and it's something Rdio’s technology could help bolster.

 

Rdio's assets could also help Pandora expand internationally. Bloomberg reported last week that Pandora has been interested in expanding its global footprint, and Rdio now operates in more than 100 countries.

 

Pandora also revealed that Rdio was in dire financial straits. The $75 million purchase is contingent on "Rdio seeking protection in the United States Bankruptcy Court for the Northern District of California." Rdio had previously raised $125 million in total funding.

 

Rdio will shut down in all markets and Pandora "is not acquiring the operating business of Rdio." Pandora says many of Rdio's employees will be offered jobs at Pandora.

 

Source: http://www.techinsider.io/pandora-buys-key-assets-of-rdio-for-75-million-2015-11

 

Considering that YouTube, Apple and Spotify are now announcing big changes to focus on music streaming; I think Pandora will have a hard time to squeeze in with the competition

They're trying hard to reach out all their audiences across all platforms in the present day

 

[iamdarkyoshi]

I use pandora. My dad uses pandora. He has unlimited 1x data and it somehow managed to stream without buffering.

[Wombo]

Wait so Pandora bought Apple Music? Kappa

[CommandMan7]

I can't take Pandora seriously, I always hear Colonel Miles Quaritch from the movie Avatar saying

 

"You are on Pandora, ladies and

gentlemen. Respect that fact every second
of every day."

 

Plus Soundcloud is better, and has less ads.

[boboman342]

Or use something better where you don't need to do any of that = profit *cough* Spotify/Soundcloud

Honestly I just need to start cataloging the songs/artists I like onto a 128GB or 200GB micro sd card.

[Fluffinator]

Honestly I just need to start cataloging the songs/artists I like onto a 128GB or 200GB micro sd card.

Those would be mad expensive though but that works lol.