Pandora IPO Pops 60 Percent, Closes Up Nearly Nine Percent | Epicenter Update — 4:15 p.m. EDT: Pandora shares ended regular session trading at $17.42, nearly nine percent higher than the $16 offering price. Pandora, the internet radio company, became the latest web company to go public Wednesday in what has become a full-blown IPO gold rush. After pricing its shares at $16, Pandora’s [P] stock opened at $20 and then immediately soared to $26, an increase of more than 60 percent. In mid-day trading, the company’s shares had fallen below $20, with major market indices down over 1 percent, as protests over Greece’s austerity plan turned violent. Like several of its web IPO brethren, Pandora currently loses money. Morgan Stanley, J.P. Pandora, which boasted 90 million listeners at the end of April, lost $1.8 million on revenue of $138 million last year, and said in documents filed with the Securities and Exchange Commission that it expects to incur operating losses through at least fiscal year 2012.
The internet IPO boom of 2011 shows no signs of abating. Hblodget: All the smug, superficial,... Pandora Media Inc: NYSE:P quotes & news - Google Finance. Pandora Is A $2.6 Billion Company After Better Than Expected Pricing. Pandora Opens At $20 A Share, Then Jumps Higher. So, What's Pandora Actually Worth? Hblodget: Good. Finally an IPO gets... Pandora IPO Prices At $16; Valued At $2.56 Billion - Venture Capital Dispatch.
Amendment No. 6 to Form S-1. Pandora Ups Price Of IPO To $10 To $12 Per Share, Now Valued At $1.9 Billion. Music streaming service Pandora has just filed a new version of its S-1 that indicates the company will be upping the price range of its stock to $10 to $12 per share, giving the company a valuation of $1.9 billion. That’s up from Pandora’s recently pricing of its stock at $7 to $9 per share, at a market cap of $1.3 billion. Pandora’s stock will be traded on The New York Stock Exchange under the symbol “P.” According to the filing, Pandora aims to raise as much as $202.6 million in the offerring (up from $141.6 million), and will offer 6,000,682 shares of its common stock with the selling stockholders are offering 8,683,318 shares of common stock in the IPO.
Pandora initially filed its S-1 in February and now has 94 million registered users. A few weeks ago, the company released its most recent revenue numbers, which reflected an increase in both sales and usage for the internet radio service. For example, Pandora is adding a new registered user every second. Pandora Media: Hey, look at us. If I'm Joe Kennedy, CEO of Internet radio company Pandora Media, I'm leaving the following message for my banker at Morgan Stanley: "Hey, guys. It's Joe. I'm glad we were able to get our IPO pricing terms filed with the SEC today, and I love the idea of a $1.4 billion valuation.
But, in the future, could you let us know if we're attempting to make news at the exact same time that one of your other clients is sucking up all the Internet IPO oxygen? The Oakland-based company says that it plans to offer more than 13.68 million common shares at between $7 and $9 per share, and trade on the NYSE under ticker symbol P. Pandora reports a $1.7 million net loss for the fiscal year ending Jan. 31, 2011, on over $137 million in revenue (mostly from advertising). Amendment No. 4 to Form S-1. Pandora Pre-IPO Numbers Getting Bigger and Bigger – AllThingsD. Here’s some red meat for investors thinking about buying into Pandora’s IPO: Go-go growth numbers for the company’s first three months of 2011. Pandora says revenue, users, and usage are all way, way up, driven primarily by the streaming music service’s popularity on mobile devices. Losses are up too, but the company has already warned investors that it will be losing money through 2012.
A quick snapshot for Q1, via Pandora’s most recent SEC filing: Revenue: $51 million, up 131 percent from $21.6 millionLosses: $6.8 million, up 126 percent from $3 millionRegistered users: 94 million, up 77 percent from 53 millionActive users: 34 million, up 88 percent from 18 millionListener hours (total time users spent playing music): 1.6 billion, up 128 percent from 0.7 billion. In short, pretty much what you want to see if you’re a Pandora bull. One good sign in that regard is that the company is growing less dependent on Google to sell its ad inventory. Pandora Prices IPO At $7 To $9 Per Share At Valuation Over $1B, Raising $141.6M. Music streaming service Pandora has just filed a new version of its S-1 that indicates the company will be pricing its stock at $7 to $9 per share.
Pandora’s stock will be traded on The New York Stock Exchange under the symbol “P.” According to the filing, Pandora aims to raise as much as $141.6 million in the offerring, and will offer offering 5,000,682 shares of its common stock with the selling stockholders are offering 8,683,318 shares of common stock in the IPO. The pricing of the stock puts Pandora’s valuation at over $1 billion. Pandora initially filed its S-1 in February and now has 94 million registered users.