On April 16, 2015, song samples were officially removed. In early 2015, Pandora removed lyrics from song pages but returned them by July. In December 2013, iTunes was described as Pandora's "biggest existential threat". On September 1, 2013, Pandora removed a 40-hour-per-month limitation for free mobile listening. By December 2013, Pandora was noted as accounting for 70 percent of all Internet radio listening in the United States. In April 2013, Pandora announced that their radio streaming service had passed 200 million users, about 70 million of whom were active monthly. Kennedy announced that he would leave the company after nine years. On March 7, 2013, Pandora chairman and chief executive Joseph J. In 2011, Pandora launched its IPO on the NYSE and is listed as 'P'. The website began as a paid service but quickly changed to an advertising service to make it also available free for users. In 2004, the company returned to its initial vision of producing customized radio stations and changed its name to Pandora Media. Initially, the company pursued a transitional strategy of technology licensing to third parties including AOL, Best Buy, Barnes & Noble, and Tower Records. Founder Tim Westergren then convinced Pandora's 50 employees of the company to work for two years without pay. The company quickly ran through its initial $2 million in funding, running out of money by 2001. The idea was to create a separate, individualized radio station for each user, with music that the user prefers and without music that they do not prefer. began as Savage Beast Technologies, and was founded by Will Glaser, Jon Kraft and Tim Westergren.
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