This comes after some other good news for Oakland, Calif. startup earlier this week — a royalty deal between Internet radio companies and the record industry, which Pandora Chief Technology Officer Tom Conrad described as finally putting the service “on safe ground.” (Others were less optimistic about the impact on smaller web broadcasters.) Of course, if peHUB is correct, then Pandora must have raised the money before the agreement, meaning that the backers were either confident that a deal would be reached, or that the company would figure out a business model regardless.
I’ve emailed Conrad for confirmation or comment, but I haven’t heard back. Pandora previously raised $22 million from CrossLink Capital, Labrador Venture Partners, Selby Venture Partners and WaldenVC.
Original post created by: Digital Venture Beat