Friday, February 11, 2011

Pandora Files For IPO

Oakland-based Pandora, the provider of Internet radio services, has filed for an IPO, saying Friday in a filing with the SEC that it is looking to raise up to $100M in a public offering. The IPO is being underwritten by Morgan Stanley, J.P. Morgan, William Blair & Company, and Stifel Nicolaus Weisel. Pandora said it had a net loss of $16.7M on revenues of $55.189M in its fiscal 2010. Pandora is venture backed by Crosslink Capital, Walden Venture Capital, Greylock Partners, Labrador Ventures, The Hearst Corporation, GGV Capital, and others.