Pandora Finally Turns A Profit
Pandora founder Tim Westergren said in an interview at the Consumer Electronic Show in Las Vegas, that Pandora had not only more than doubed its revenue in 2009, but turned in a black balance sheet for the first time in its 10-year history during the fourth quarter.
Pandora has signed deals with both Pioneer and Ford Motor Co., to ensure their service will be placed into thousands of car dashboards over the coming year, “Maybe a year ago people would have said Pandora is a computer thing,” said Westergren. “Now they’re beginning to realize that Internet radio is an anytime, anywhere thing.” This news is bound to be good for Pandora’s bottom line, but mobile internet will be another thorn in the side of satellite radio providers like Sirius, who are already under fire from the NASDAQ to get their stock price above $1.
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