Pandora will acquire “key assets” from streaming music technology company Rdio for $75 million in cash. The move comes as Rdio revealed it sought bankruptcy protection in the United States Bankruptcy Court for the Northern District of California. Pandora will be gaining technology, product, intellectual property, and people from Rdio.
Poor Rdio. It was a great service, but never quite hooked me. That doesn’t mean a lot of people wont miss it though.
Interestingly, did you know that Pandora is currently only available in the US, Australia & New Zealand? Rdio on the other hand is available in 100 markets and with the purchase provides Pandora the opportunity for growth beyond it’s small borders. The hopeful result: to increase their plateaued growth.