Pandora is paying $75m for assets owned by Rdio, which had raised more than $125m from backers including Skype but has now filed for bankruptcy.
Music discovery platform Pandora agreed yesterday to acquire assets from Rdio, the US-based music streaming service that had raised $125m from investors including online communication software provider Skype, for $75m.
Rdio launched its music streaming service in 2010 but, faced with intense competition from the likes of Pandora, Spotify and Soundcloud, as well as offerings from bigger players such as Google and Apple, it has had to file for chapter 11 bankruptcy protection.
Pandora is acquiring unspecified technology and intellectual…
