In a major business restructuring, an online music streaming service is tapping thumbs up for expansion in Atlanta.
Pandora announced Wednesday a plan to expand its workforce in Atlanta in an effort to seek talent at a lower cost than it is able to hire at its headquarters in Oakland, California.
“Atlanta is a city with a rich history in music and a large pool of diverse tech talent that we can tap into as we scale,” Pandora CEO Roger Lynch said. “While we are committed to having Oakland remain our headquarters, we’re excited to build on the great foundation of our awesome team there and expand our presence in Atlanta over time.”
Pandora has leased 11K SF at 271 17th St. in Atlantic Station since 2013. That lease expires this November, CoStar reports.
Pandora Media Inc. stated in an 8-K recently filed with the Securities and Exchange Commission that it would reduce its employee base by 5% in an effort to save $45M annually. The company is shifting its focus to ad-tech and audience development.
“It also simplifies the organization into a flatter structure for smarter, faster execution,” officials said in a release.
“These changes allow us to act faster, invest for growth and extend our leadership as the audio market hits what we believe will soon be a major inflection point,” said Lynch, who became CEO of Pandora in August after leading Sling TV.
