 RAIN NEWS FLASH: Pandora sets IPO terms at $1.3 billion valuation ·Jun 3, 11:42 AM PANDORA LOOKS TO SELL 5MM SHARES AT $7-$9/SHARE Various financial websites are reporting this afternoon that Pandora has filed a proposal with the Securities and Exchange Commission to sell about 5 million shares in its upcoming IPO at a price of between $7 and $9 a share, which would value the company at about $1.3 billion.
See coverage of the Oakland-based company in the San Jose Mercury News here or the L.A. Times here.
It’s consistent with the fact that Pandora’s current AQH audience is roughly equal in size to that of a 3.0-share FM radio station in every U.S. market — with all of those stations having shares that have been growing at the rate of about 100% per year. Pandora’s market capitalization at this share price would equal the total of the market caps of such pureplay radio broadcast companies as Entercom ($330 million), Cumulus ($180 million), Saga ($150 million), Radio One ($120 million), Emmis ($40 million), and several others combined. Doing some estimates for the approximate values of the radio divisions of larger media companies, we believe this would make Pandora the nation’s fourth-highest-valued radio broadcaster, after Sirius XM and Clear Channel Radio and just behind CBS Radio. If Pandora’s stock price rises after the IPO, it could easily move to third place. — KH 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 |
