But according to the S-1, founder Tim Westergren owns less than 3% of the company.
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Yet the RIAA is flooding the Capitol by trying to smear the personal integrity of Westergren.
But Westergren doesn't expect to terrestrial and Internet radio stations to pay the same royalty rates anytime soon.
Tim Westergren, Pandora Internet radio's founder and chief strategy officer, says the current system is outdated and unfair.
Westergren notes that about half of radio listening overall takes place in cars.
Finally, I wondered whether Westergren had begun to think about an exit strategy.
Back in September, Pandora sent a letter form Pandora founder Tim Westergren to users asking them to support the measure.
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Westergren likes to say that 80 percent of music consumption is radio-style serendipitous listening and only 20 percent is on-demand, ie.
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Westergren notes that your phone will buffer a little bit of the song, allowing you to recovery seamlessly from momentary loss of signal.
Founder Tim Westergren admits to maxing out 12 credit cards to sustain the company he started back in 2000 as the Music Genome Project.
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Westergren thinks the biggest opportunity for the company will be to eat into the 90%-plus of the market still held by conventional over-the-air radio.
Westergren classifies Spotify as on-demand, so as it grows, it takes market market share away from other on-demand options not, he says, from Pandora.
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The core idea, Westergren says, was to create a form of recommendation entirely blind to popularity, and focused instead on the sound of the music itself.
Pandora founder Tim Westergren named these as possible areas the service could cover in the future, he said in a little-seen video posted in August 2009.
Westergren says the company spent the first 4-5 years of its corporate life building the music analysis software that it at the core of the Pandora service.
Pandora founder and chief strategy officer Tim Westergren took the stage at the Web 2.0 Summit in San Francisco this afternoon to talk about Internet Radio.
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Offering news, talk and sports content is "something that we've talked quite a bit about as a company and something we intend to deliver to listeners eventually, " Westergren said.
That means people like Dorsey, Jobs, Bezos and Westergren.
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