 RAIN NEWS FLASH: Pandora files for $100m IPO ·Feb 11, 04:45 PM Pandora is officially going public. The company late today filed for a $100 million initial public offering (IPO). “This offers the first public look at the company’s finances,” notes CNN, “and Pandora isn’t yet profitable. The popular site posted a net loss of $328,000 on revenue of $90.1 million in the first nine months of its most recent fiscal year. In the fiscal year ended Jan. 31, 2010, it lost $16.8 million on sales of $55.2 million.” Not surprisingly, royalties were Pandora’s biggest expense. CNN reports royalty costs “reached $45.4 million in the first nine months of 2010 — twice what Pandora spent on them in the same period a year earlier.” CNN has more here. Pandora was profitable in Q4 2009 (RAIN coverage here). We’ll have much more coverage on this story in Monday’s issue of RAIN: Radio And Internet Newsletter. Have a great weekend! share: del.icio.us.  Reddit  Digg  Yahoo  Wink  Windows  Google  Newsvine 
CommentCommenting is closed for this article.  Other stories RAIN has upgraded (and moved)! RAIN 9/13: RAIN Summit Chicago takes place today! RAIN 9/12: First Summit in RAIN's hometown takes place tomorrow RAIN 9/9: Summer holidays, "doldrums" impact July Webcast Metrics, but audience up over last year RAIN 9/8: Clear Channel launches new customizable iHeartRadio beta; RAIN goes hands-on RAIN 9/7: Meet more speakers you'll hear at RAIN Summit Chicago in less than a week RAIN 9/6: Clear Channel taps The Echo Nest to take on Pandora RAIN 9/2: RAIN reviews Spotify's radio-like product Artist Radio RAIN 9/1: UK online radio aggregator Radioplayer campaigns b'dcasters to create "all radio" ratings RAIN 8/31: Execs from Merlin, Triton Digital, jacAPPS and more to appear at RAIN Summit Chicago |
You can find Pandora’s official press release on the matter 
