All indications are that Pandora’s management seems to be raising cash and emerging from a latter-day Dot Bomb “money drunk.” The latest sign is Pandora’s sale of its Ticketfly subsidiary to Eventbrite for a reported $200,000,000. The sale comes less than two years after Pandora acquired Ticketfly for $335,000,000 in cash—a cash on cash loss of $135,000,000.
And that’s a lot of streams. One of the problems with startups that suddenly come into the public markets with a pile of cash and inexperienced management is that they lack the cunning patience to spend it wisely and play the long game.
Read Article: Music Tech Solutions