We crossed a milestone at Pandora today: this morning we began trading as a public company on the New York Stock Exchange (NYSE) under the symbol “P.”

It’s a very proud moment for all of us, and we’ve all paused for a moment to take it all in. A number of us were on Wall Street to witness the opening day, and we’ve celebrated the moment with our teams all across the country. It’s really something to see people actually start to buy stock in your company. Pretty cool!

Most importantly though, this represents an encouraging sign about our hopes for building an enduring and impactful company. “Going public” is really a means to an end. It allows us to do even more of what we’ve been doing and to bring even more resources to bear on our mission of enabling people to enjoy music they know and discover music they love… and to help musicians find their audiences and build careers. Music is continuing to go through a major transformation – and no more so than in radio as it shifts from a broadcast world to unicast, personalized radio. We have a rare opportunity in front of us to influence the way people connect with music and to create a healthy music industry – one that is more inclusive of working artists and more expansive in the listening audience it serves. It’s an ambitious goal, but we think it’s an important one, and an achievable one.

We have many, many people to thank for our progress so far: investors who gave us the resources to get started; great advertisers and forward-thinking agencies who have recognized Pandora’s potential and embraced our platform in these early days; an amazing group of business partners – from car companies to consumer electronics to smartphone manufacturers for building so many great devices to deliver Pandora anytime/anywhere (and to the amazing networks that make that possible); labels and artists who continue to send us fantastic records everyday across hundreds of genres; and of course to our listeners who have been the lifeblood of Pandora, spreading the word about our service to friends and providing a nonstop stream of invaluable feedback. Not a day goes by that we aren’t grateful for every part of this ecosystem, of which we are now a part.

So we look forward with great anticipation, ambition and a healthy dose of humility to the years ahead. It’s a wonderfully exciting time and we’re very thankful to have this opportunity.

Now, back to work!

Tim (Founder)

Comments

  1. John
    June 15, 2011 at 1:35pm
    First of all, congratulations. I've been using Pandora for a couple of years now, and I'm really happy for you that you can now get public investors. One thing that worries me though, is the much-needed monetization of your users. There's only so much advertising people will put up with, and I know that what you already do doesn't cover the costs. I know one can become a Pandora One member, and pay $36.00 USD for a year of ad-free listening, but I was thinking of another way for you to make money off of people like me. I wouldn't mind voluntarily paying something like $5.00 per month as a recurring donation (yes, I know it's not tax-deductible, but I don't mind supporting services I frequently use and greatly enjoy). I've wanted to support Pandora by becoming a subscriber, but then I think that $36.00 is pretty cheap for a year, and then I won't get you more money to provide your service by hearing the ads. It feels like I'd be cheating you by only paying that much for a whole year of unlimited listening. Basically, I'm just saying you should add a way for dedicated Pandora listeners to donate whatever they want to donate to help keep the project running and profitable. You don't even need to offer us anything in return. Perhaps a "Supporter" image on our profile page or something (you can check out http://forum.cyanogenmod.com/ to see how donors are acknowledged there), but nothing physical nor anything that would cost the company any money. Anyway, just wanted to throw that out there, since I've never heard of this being discussed, though I admit to not really reading the blog until now. You'd get at least an extra $60.00 from me every year... :-) Keep up the great work, Pandora team! Don't forget that you do have listeners who are willing to help!
  2. Suzanne
    June 15, 2011 at 2:57pm
    Congratulations, Pandora. We love you at the office where we listen to our headphones for a large part of every day. Thanks for listening to us, customizing our experience, and giving us great quality. Hope your stock soars. :)
  3. Jack Dittmer
    June 15, 2011 at 3:38pm
    Tim Westergren listed a lot of people to thank for Pandora's progress so far, but I am surprised that he left out the following two significant groups of people, who undoubtedly have been essential to Pandora's success: 1. The musicologists who first conceived and implemented the Music Genome Project 2. The software developers who implemented the Pandora website and Pandora One app.
  4. Steve Griffith
    June 15, 2011 at 11:54pm
    New to Pandora. Just love it. Get to hear music that I can't get on the radio. Keep up the good service. Good Luck with the business.
  5. Asp3
    June 16, 2011 at 7:41am
    Tim & Company, Congratulations on going public. I really like the way you framed the milestone and the way you described how it will help you achieve your goals. I really think that Pandora can serve as the great equalizer for artists. So many amazing artists go undiscovered by audiences which would be happy to hear their music. Pandora is a great way to introduce people to music they might not otherwise here. I have been listening to Pandora for five years and I continue to discover new artists almost every day I listen to Pandora. I have a much broader and richer musical life thanks to Pandora. I am reminded every day of what Pandora has done to enrich my life and I am very thankful for that. So, I wish you well in achieving continued success and hope that your goals are met in a way that benefits, the company, your employees and your investors. You're already providing a great benefit to your users and I hope that you're somehow able to expand your wonderful service to more users.
  6. Seth Perlstein
    June 16, 2011 at 9:13am
    Get paid tomorrow and plan on buying stock in your company. I am excited and listen to over 60 a week on your outstanding mobile app. I have not listened to a cd or on any usb chip for my mobile ,home or work audio needs in 12 months. I rigged my audio at work to play pandora and got the Region Vice President of our business to say ok and ditched our Muzak cd's player system. lol. Guys I rock the crap out of pandora. Over 60 hrs a week. In my shop, home and car. Screw sat. and hd. radio. This company is the future. I am buying stock tomorrow... I would recommend that an option be placed on allowing the mobile app. user the ability to check and un-check a liked song so as not to over-kill the favored song. Congrats guys. Will be upgrading to Pandora One shortly. "Winning" Loyal Pandora Member Seth D. Perlstein P.S. Rock on to the people behind the trifonic, underworld and La Roux station's!
  7. Rob
    June 16, 2011 at 1:57pm
    FINALLY!! a radio station type site that plays music specifically what you enjoy listening to. I got my X-mas present. Who needs XM or satellite radio this is better then any of those. Thank you gentleman very much appreciated and very much enjoyed while cruisin through the internet. Makes looking for work A WHOLE LOT BETTER, hahahah :)
  8. Agence Web
    June 16, 2011 at 4:22pm
    I really love Pandora but i can't acces when i go back in Europa. Do you think you ll open an european service soon ? Please ....
  9. Jasmine
    June 16, 2011 at 7:22pm
    I was so excited that Pandora became part of the NYSE that I convinced my dad to buy a few shares. My biggest worry is that Pandora does not generate enough profit to keep their stock prices up, which was proven today when the stock went down 20% and was declared "The Skin of Evil". I hope that I am right in saying this, that P is just going through a rough start. I have faith that Pandora will find a way to generate more profit without losing it's users, and therefore make the gamble taken by its investors worth while.
  10. Another milestone
    June 16, 2011 at 9:15pm
    You crossed another milestone today.

Comments are closed.