Wednesday, June 15, 2011

Pandora Surges In IPO Debut

The IPO frenzy was in full swing this morning, as Oakland-based Pandora Media debuted on the market in its IPO, trading as high as $26.00, after pricing Tuesday evening at $16.00. Pandora had already upped its initial trading range, pricing well above a revised $10.00 to $12.00 per share. The reception for Pandora's IPO benefits Crosslink Capital, Walden Venture Capital, Greylock Partners, Labrador Ventures, The Hearst Corporation, GGV Capital, the venture backers of the company.