Pandora IPO to Value Company at $1 Billion
(UPDATED) Pandora has filed an updated S-1 that shows they will be pricing stock at $7 to $9 per share during its IPO on the The New York Stock Exchange. That puts the total valuation of Pandora over $1 billion. According to the filing, Pandora hopes to raise about $140 million in the offering. The latest users stats from Pandora are impressive, but along with them comes a black cloud:
The Q1 good news:
The Q1 good news:
- Revenue: $51 million, up 131%
- Registered users: 94 million, up 77%
- Active users: 34 million, up 88%
- Listener hours: 1.6 billion, up 128%
But with more listeners comes more music streaming costs, and that led to a $6.8 million, Q1 loss up 126%. Still, Pandora is expected to be one of the season's hottest IPOs.
