OAKLAND, CA (Hypebot) –
Are royalty rates still too high for internet broadcasters to survive? Many say yes, but a group of investors apparently disagree and have pumped $35 million into Pandora. Greylock is leading the round, with partner David Sze joining the board of directors, the company confirmed to peHUB, but they declined to comment on the round's size or valuation.
Pandora had previously raised $29 million, from Crosslink Capital, DBL Investors, Hearst Corp., Labrador Ventures, Selby Venture Partners and WaldenVC.