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Articles tagged with: pandora IPO

Pandora Gets A Whole New Look, Switches To HTML5

If you’re into online radio, you’ve probably heard of Pandora. The company had an initial public offering just a few weeks ago, and are now going through a massive restructure that will unveil itself very soon.

To start, subscribers will be slowly but steadily gaining access to the new site on a rolling basis, so it’s hard to give an exact launch date of Pandora’s new interface. The site will first be available to Pandora One customers.

Pandora’s IPO Raises Again, To $16

After we had just covered Pandora’s IPO raise from $7-$9 a share to $10-$12 a share, the company has just raised the price to $16 per share (nearly double of its original offering). According to Chris Nerney from IT World, this is an old Wall Street trick to raise investor enthusiasm.

Nerney argues that this is a tactic to make Pandora seem like an extremely desirable investment, whether it is or isn’t. This opens Pandora’s box (so to speak) on the first day of trading and will cause investors to pay a high price of about $30 to $40 a share. It is also likely that the stock may dip down to a low $20 in the coming weeks.

Pandora Sets IPO Terms, Expect $8 Per Share

The online radio company, Pandora Media Inc. has filed terms for $109.5 million IPO on Thursday. The owners of Pandora will sell 13.68 million shares at $7 to $9 a piece ($8 average), according to an amended filing with S.E.C. (Securities and Exchange Commission).

Pandora was launched in 2005, and was the first online radio service that used a special algorithm based on the Music Genome Project (a database built by teams of music experts that analyzes songs) to select a playlist for users based on preferred and disliked songs.