![]() RAIN NEWS FLASH 6/14: Pandora IPO prices at $16/share WEBCASTER DOUBLES WHAT THEY’D HOPED TO RAISE JUST WEEKS AGO![]() Pandora will begin trading publicly tomorrow under the symbol “P” on the New York Stock Exchange. This stock price for the 14.7 million shares sold this afternoon, given the total of 160 million shares outstanding, gives Pandora an initial valuation of $2.6 billion, making it the country’s fifth-most-valuable radio broadcasting company in terms of enterprise value (after Sirius XM, Clear Channel Radio, CBS Radio, and the upcoming Cumulus-Citadel combo). The company raised nearly $235 million after pricing the shares well above the top end of the expected range of $10-$12 per share. Pandora’s $16 share price is not only well above last week’s revised target, but double the company’s original $7-$9 target. The L.A. Times writes, “The sharp boost in Pandora’s IPO price suggests the stock will surge Wednesday as investors who couldn’t buy the IPO get their first crack at the shares.” Read more here. There’s also more from VentureBeat here and Bloomberg here. Look for more follow-up and analysis tomorrow in RAIN. Have comments? Write feedback@kurthanson.com. share: del.icio.us. ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() CommentCommenting is closed for this article. ![]() 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 |



