Pandora Founder on Its Future in Cars, Its Stock Price -- and all Its Christmas Music
Shares of Pandora might be trading 39% below their trading debut on Wall Street this summer, but excitement around the online streaming radio station does not seem to be waning.
“We are not really focused on what’s happening right now—our eyes are way out on the horizon,” said Tim Westergren, the founder of Pandora.
That horizon seems to be vast--filled with new partnerships and a widening global audience. The Oakland-based company currently has 100 million users and 90,000 artists than run on its playlists.
Ford (NYSE:F) recently announced its 2012 truck line will come equipped with Pandora. The line includes the F-150, which has been the best-selling truck in the U.S. for the last 34 years. Pandora, which has grown to more than 400 employees, is also working with Mercedes, Cadillac, Hundai, General Motors (NYSE:GM) and BMW.
“Cars are an important part of our future,” said Westergren. “They represent historically half of all radio listening so it’s a really important priority for us.”
He added that Pandora is currently in talks with other motor companies, so more car integrations will likely happen soon.
“This is a really huge opportunity. Radio is going through a massive transformation,” he said. “It’s going from broadcast to personalized--and we’re kind of at the early chapters of that story.”
Its vision of having personalized radio in cars is not the only thing Pandora is focusing on.
“It’s obviously part of our vision to be a global service and have billions of people listening all over the world,” said Westergren.
For the full interview, click here