To remedy this issue, Pandora added a free, ad-supported version to at least make a bit of money from its free users. Later, the company realized that people were abusing the 10-hour free trial by subscribing to the service with new email addresses. It was an instant hit thousands upon thousands of users subscribed to the service shortly after its release.īut although this is the case, not a lot of people continued on after the free trial. Upon its official launch in 2005, Pandora was advertised as a subscription-based service with a 10-hour free trial. The Music Genome Project was renamed Pandora Media and was revamped as an internet radio service. Instead of focusing on businesses, Savage Beast Technologies shifted its attention to the consumer market. With the funding on hand, the company re-establish itself in a new light. Motivated by the success of the Best Buy pilot, the company went to Walden Venture Capital and borrowed funding of $8 million in 2004. 2004: Slow and Steady Successĭespite blow after blow of failure, the company persisted. As a result, Savage Beast Technologies was sued by its employees. With no funding to be had, the company had no choice but to let go of almost all its staff-except for the 50-some people who were willing to work for free.īut after two years without pay, the remaining employees have had enough.Īlthough they agreed to work for free, they hoped the company would somehow turn itself around and grow big, but no such thing happened. In just under a year, the company ran through its initial $2 million funding and almost went bankrupt.įrom such a big loss, the founders of the Music Genome Project were backed into a corner. It did well for a while, but it didn’t quite manage to reach its maximum potential. Instead of the streaming service we know and love today, it was a business-to-business licensing company under the name Music Genome Project. In its early years, Pandora was a completely different service. Here’s a brief timeline of Pandora’s rise to success: 2000–2003: Rough Beginnings Pandora Music was founded in the year 2000 by the owners of Savage Beast Technologies: Will Glaser, Tim Westergren, and Jon Kraft. With Pandora, you can listen to music with or without an account or premium subscription. Pandora Music is a US-based audio streaming service with over 80 million active users. Is Pandora’s Paid Plans Worth It? What Is Pandora Music?
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