This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Pandora Files for $100 Million IPO

NEW YORK ( TheStreet) -- Pandora Media is looking to raise $100 million through an initial public offering, according to a Form S-1 registration statement filed with the Securities and Exchange Commission on Friday.

The Internet radio company has yet to determine how many shares it will sell or what price range the stock could be offered at. Morgan Stanley (MS) and J.P. Morgan (JPM) are acting as bookrunners for the stock sale,. which is being co-managed by William Blair and Stifel Nicolaus.

Pandora said it had roughly 80 million registered users as of January 2011, and that it had streamed more than 3.9 billion hours of radio listening in the fiscal year ended on Jan. 31. The company's service, which is free but sprinkled with advertising, allows users to create "stations" based on the bands and artists that they like. It then plays songs by not only that artist but also other bands whose music has similar characteristics.

The financials offered up by the company, which launched in 2005, show it's still operating in the red but that it's making pretty good progress toward turning a profit. For its fiscal 2010 ended on Jan. 31, 2010, Pandora posted a net loss of $16.8 million on revenue of $55.2 million. For the nine months ended on Oct. 31, however, its net loss shrank to $300,000 as revenue swelled to $90.1 million.

In addition to streaming online, Pandora's service is offered as an application for Apple's (AAPL) Iphone and other smartphones as well as coming equipped in certain automobiles.

-- Written by Michael Baron in New York.

>To contact the writer of this article, click here: Michael Baron.

>To submit a news tip, send an email to:

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,164.95 -251.90 -1.45%
S&P 500 1,994.99 -26.26 -1.30%
NASDAQ 4,635.24 -48.1670 -1.03%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs