Why (almost) everybody loves Pandora

Pandora, the Internet music service, exemplifies the mega trends that have defined the current generation of Web companies -- mobility, dependence on the cloud, and slick, user-friendly design. No less, its performance as a public company has largely made investors happy.

Without Pandora it's hard to imagine what the current state of the online music-streaming space would look like. According to data released by the company, Pandora had 58.3 million users at the end of September, representing a 49% gain over the 39 million folks that used its service during the same period last year. Pandora controlled 6.5% of the U.S. radio listening audience, jumping from 4% last year. Pandora has benefited from the mobile boom. According to its own figures, 70% of the firm's total listening hours -- about 771 million last month alone -- come via mobile products and so-called "non-traditional sources," such as connected televisions and set-top boxes. Over 100 million of Pandora's registered users have accessed the service from a smartphone or tablet.