Pandora is the grandaddy of streaming music, with more than 15 years in business and more monthly listeners using it to hear tunes than any anyone save for YouTube. But Pandora, a public company, has struggled to turn a profit, and seen it’s user growth slow in recent years. Today it announced that it will be acquiring “several key assets” from Rdio, which is filing for bankruptcy. The purchase price is $75 million and the acquisition includes technology and intellectual property. The announcement says “many employees” from Rdio will be offered the chance to work at Pandora, implying that at least some will be out of work.
Source: Rdio is shutting down and Pandora is buying up the scraps | The Verge