San Francisco
– Streaming music service Pandora has closed a fifth round of venture capital
financing, PaidContent reports, citing a statement from the company.
The amount
raised was not disclosed, but the round was led by GGV Capital with
participation from Allen & Company.
The company had previously raised a
total of $56.3 million to date in financing.
San Francisco-based Pandora said
earlier this year that revenues for 2009 topped $50 million, while royalty
payments were more than $28 million.
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(PaidContent)
