Pandora Is A $2.6 Billion Company After Better Than Expected Pricing (P)

June 14, 2011

chart of the day, pandora revenue and losses, may 2011

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Tim Westergren

Tim Westergren

Pandora sold 14.7 million shares at $16 a piece, giving it a $2.6 billion valuation, Bloomberg reports.

The $16 share price is above the $10-$12 it was expecting. The stock starts trading tomorrow.

Pandora is losing money, but investors must like its revenue growth and believe the company can figure out profitability in the future.

Related: BTIG: Don’t Buy The Pandora IPO!

Article source: SAI


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