August 16th, 2008
“ We’re approaching a pull-the-plug kind of decision… We’re funded by venture capital. They’re not going to chase a company whose business model has been broken. So if it doesn’t feel like its headed towards a solution, we’re done.

Source: Tim Westergren, founder of Pandora, who intends to shut the company down soon if they can’t convince SoundExchange to lower music royalty fees (via). So sad.

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