The latest Spotify move is significant in terms of its mounting challenge to Pandora in the US. Pandora is a public company that was one of the first to come to market in the Web 2.0 IPO bubble last January. It was valued at $3 billion despite still being a loss-making enterprise. The company still has a market cap of $1.88 billion.
I like Pandora as a service and have used it for a number of years. It's ability to play music that I like and that represents a coherent genre and mood is amazing. Pandora's strength is in serendipity: mixing music that one truly enjoys together into a playlist that the user doesn't need to contol. It makes for wonderful surprises and music discovery (that can lead to sales and revenue for Pandora). It's format is the true future o...
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.