4 December 2012 3:19 PM, PST | Huffington Post | See recent Huffington Post news »

Washington -- Since Pandora launched its Internet radio service in 2007, it has grown from a startup facing near-bankruptcy to a leader of the digital streaming market. With more than 60 million users in the past month, the company is now estimated to be worth billions, with revenue doubling every year. "On the growth side, it's been a wonderful story," founder Tim Westergren declared at a recent conference. "Our listenership just keeps exploding, and so does our revenue."

It's quite a success for a company that sold itself as an artist-friendly, transformational force that didn't just make radio cool again, but also offered -- through royalty fees -- a potential path to prosperity for musicians who've seen physical record sales plummet. Westergren is a musician himself, and takes pride in championing indies and majors alike. Pandora uses an algorithm that essentially modernized the much beloved free-form radio formats of the 1960s and '70s. »

- Jason Cherkis

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