February 11, 2011

Pandora Radio Raise as much as $100 million in IPO


Oakland, CA - Internet radio service Pandora today announced that it filed a registration statement for a proposed IPO. The underwriters are investment banks Morgan Stanley & Co. and J.P. Morgan Securities. The number of shares and pricing information has yet to be determined.

According to the registration statement filed with the Securities and Exchange Commission today the company's revenue was "$55.2 million and $90.1 million in fiscal 2010 and the nine months ended October 31, 2010, respectively. Our net loss was $16.8 million and $0.3 million in fiscal 2010 and the nine months ended October 31, 2010, respectively."

The statement also says that the company has a 50% share of all internet radio listening time among the top 20 stations and networks in the United States, according to a November 2010 report by Ando Media, or Ando, an audience measurement and ads management firm.

Pandora Radio's Registration Statement with the SEC

Source: Digital Media Wire

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