Things aren’t looking great for Pandora at the moment. With share prices tanking through Q4 2016 till now, it’s been long believed that the company has considered selling for quite some time now. According to Bloomberg, efforts for a purchaser increased this past week as the company announced an investment from private equity company KKR & Co. to the tune of $150 million.
Pandora is now on the clock to evaluate strategic direction in the 30 days leading up to the closing of the KKR deal. The company is currently working with Centerview Partners LLC and Morgan Stanley to map out its future.
Regardless, whether or not the company is able to find a buyer in the coming months there’s another option for them to sell their ticketing asset Ticketfly which they initially purchased for $335 million two years ago. At the time, Pandora was hopeful that its insight into market data on music listeners could help them better target fans to sell tickets but it’s unsure how successful that acquisition has been.