Web radio company Pandora Media Inc. has laid off 20 staffers, reducing its headcount from 140 to 120, according to this blog post from founding CEO Tim Westergren. Although he didn't say which departments of the company were affected, he noted that the company's burgeoning advertising sales will necessitate staff growth rather than reduction in that area.
After Westergren declared Pandora to be nearing the brink of extinction in August due to exorbitant Webcasting royalty rates, the passage of a bill allowing Pandora and similar companies to negotiate their own rates late last month offered some relief. Pandora's iPhone application has proven to be among the most popular music applications for the device, although the company has had to shut down all of its non-U.S. services.
Nine-year-old Pandora has raised more than $20 million from investors including WaldenVC, Labrador Ventures, Selby Venture Partners and Crosslink Capital, as well as Topspin Media Inc. co-founder Peter Gotcher. -- Paul Bonanos
See blog post from Pandora announcing layoffs
See July 11 and Sept. 30 posts from Tech Confidential concerning Pandora
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