Bridge Capital Holdings, whose subsidiary is Bridge Bank, National Association, a business bank headquartered in Silicon Valley, announced today that its Technology Banking Division has established a $10m line of credit with Pandora Media, Inc. to provide working capital for continued growth.
Commenting on the funding, Joe Kennedy, CEO and President of Pandora, said: “We’re thrilled to forge this new relationship with Bridge Bank. With their support, we’re looking forward to increased financial flexibility and resources to enhance our ongoing growth”.
Pandora, which is based in Oakland, CA., with sales offices in Los Angeles, New York and Chicago, is a personalized Internet radio and music discovery service available anytime and anywhere on the PC, in the home, and on mobile devices via partnerships with AT&T, Apple, RIM and Sprint.
FinSMEs
24/09/2009