Pandora Founder: “We Are Building a Company That Will Last 100 Years…”

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Pandora founder Tim Westergren is cashing his shares as quickly as possible, at a rate that now exceeds $2 million a month, $12 million a year, and $23.4 million since the company went public.  In fact, he has now cashed almost all of his available shares.

On Tuesday, Westergren had this to say about his long-term vision for the company.

“At Pandora we talk about building a company that will last for 100 years. One that will employ our grandchildren. In the long run, the greatest fulfillment you will get from work is not how much you make, how much control you have or how much recognition you get. It will come from having a company that you are proud of and that great people love to work for.”

And, on the touchy-topic of cashing shares:  “Every employee at Pandora gets stock,” Westergren wrote.

“The marginal increase in spoils that come to you at the expense of those around you is irrelevant.”

The complete post, called ‘Equity, Control, and Credit: Be Generous,’ can be read here.

Image by Jerry “Woody,” licensed under Creative Commons Attribution-ShareAlike 2.0 Generic (CC BY-SA 2.0).  Written while listening to araabMUZIK.

20 Responses

  1. Jacob Chang

    I wish Pandora all the best with such great hopes, but u must know through article that how Pandora has been performing against iTunes.
    Cheers!

      • FarePlay

        The real tragedy is the telecommunications act of 1996, which opened the door for the massive consolidation of local radio. Living in NY and Boston in the 60s and early 70s and the introduction of FM radio, here was a time when technology truly added value and curated diversity to music.

        A time when tens of thousands of program directors and DJs “added” songs and created playlists that reflected their taste and the taste of their audience. A time when some late night DJ in Fresno or Syracuse could play some song nobody ever heard of and within a month it could “go viral” and be a national hit.

  2. Anonymous

    “Pandora founder Tim Westergren is cashing his shares as quickly as possible”

    The only sensible thing to do.

  3. Dry Roasted

    I guess we need a United States in 100 years also since that’s the only country that will license Pandora.

  4. rikki

    I still can’t figure out what pandora is for? As a DJ i find it useless ,poor choices of songs very limited depth…… Can someone explain what i am missing?

    • GGG

      It’s for people who want to hear the same 25 songs every time they turn on the radio as opposed to the same 15 on terrestrial radio.

      • TuneHunter

        Bravo GGG! brilliant summary line.
        All radio has to be converted to old fashion music stores – very simple task.
        Rikki and his competent friends will become the most important link in this new money machine.
        Discovery Moment Monetization with radio (including Pandora and iTunes Radio) being merchants of the best possible staff
        and Shazam the tollbooth on the way to future use or enjoyment. Same toll for owners or streamers.

        • TuneHunter

          … and then there is a hope for profitable Pandora 100 years from know with grandkids monetizing great music!

  5. FarePlay

    Sad. Seems like a man who has totally lost touch with his reality. My detractors are going to love this, we need to keep CD players in cars. Just saw an ad for Pandora on Blue Tooth radio.

  6. Me

    “We Are Building a Company That Will Last 100 Years…”

    That’s good to know, because that’s about how long it takes for an album to go through Pandora’s submission process and get approved.

  7. The Don

    …its a radio station with an off switch! If you like it leave it on, if you don’t turn it off you…got it now, but for all our sakes stop whinging!!

  8. Adam C Smith

    Attn: the Don,
    Only a parsimonious “morally-superior” douchbag would tell people to stop whining and use the off switch, when it’s comPLETEly within his power to do the same with his browser. OK, let’s all giggle at “the Don’s” interruption and continue what was beginning to be an interesting conversation.

  9. Don A Da'quan

    We will see if Pandora is building a company that will last 100 years, I have some skepticism. Pandora’s model is a unique and very innovative system that has recorded record profits for the company. However, I question how sustainable their business model is because they continue to short change the providers of the content that allows them to exists, musicians. Musicians, songwriters, and artists continue to get shortchanged by companies like Pandora for use of their songs and lyrics. We are seeing increased frustration from the music industry towards Pandora and I can’t help but feel that unless something changes this trend will make Pandora’s business model unsustainable.

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