Tuesday, June 14, 2011

Pandora Prices At $16.00

The frenzy for Internet IPOs continued unabated today, as Oakland-based Pandora Media, the online Internet radio station firm, has priced its IPO at $16.00 per share--well above its upgraded, $10.00 to $12.00 per share estimated pricing range set last week. The firm is selling 14.7 million shares of its common stock in its IPO, set for the NYSE tomorrow as "P". Pandora is venture backed by Crosslink Capital, Walden Venture Capital, Greylock Partners, Labrador Ventures, The Hearst Corporation, GGV Capital, and others.