Pandora Now Valued At $1.9 Billion After Pricing IPO $10-$12 Per Share
Pandora is a music streaming service that has filed a new version of an S-1 with the SEC. The price range is now placed at $10 to $12 per share. Pandora now has a valuation of $1.9 billion. Pandora was originally priced at $7 to $9 per share. Pandora plans on being traded on The New York Stock Exchange under the symbol “P.”
Pandora is expected to raise close to $202.6 million from the offering. Pandora will be offering 6,000,682 shares of common stock to stockholders. The current stockholders will be selling 8.6 million shares of common stock in the IPO.
Pandora currently has about 94 million registered users. Pandora is adding a new registered user every second. Pandora has streamed about 3.8 billion hours of the radio for the fiscal year that ended January 31, 2011.@amitchowdhry or on Google+ at +AmitChowdhry