Pandora IPO ready for lift-off

Pandora IPO ready for lift-off

Summary: Pandora will raise $234.9 million in an initial public offering. The IPO is just the latest from the Internet sector.

TOPICS: Browser, Banking, Legal

Following the excitement being generated about Facebook potentially going public with a $100 billion IPO some point within the next year, Pandora, an Internet radio company that boasts in excess of 90 million registered users, is expected to go live with an IPO on Wednesday.

Shares were priced at $16 a share, a tally that raises $234.9 million for Pandora, according to Ben Parr of Mashable. To quote:

The price is well above its target price range of $10-$12, which itself was a 43% increase over its original $7-$9 target price. At $16 per share, Pandora will raise $234.9 million. The company will sell 14.7 million shares during its IPO, with the sale of an additional 2.2 million shares possible.

While news to many, Pandora's IPO is a clear signal that Internet-based companies are increasingly being painted in a favorable light by public buyers. Yandex (symbol YNDX), Russia's most popular search engine, went public in the United States last month with an IPO which introduced shares priced between $24-$25 a share. The company has been profitable since 2002, which spells one of the clear differences between Pandora and other Internet company-based IPOs: Pandora has yet to turn a profit, in the red by $1.8 million in 2010.

LinkedIn went public earlier in the year with great turnout, and now, Internet gaming company Zynga is rumored to be preparing an IPO. Likewise, Groupon has been in the news lately with the IPO they have filed.

All of this Internet-based company IPO action makes it crystal clear: these companies are big players, and they're here to stay.

-Stephen Chapman SEO Whistleblower

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Topics: Browser, Banking, Legal

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