It almost got lost in the shuffle, with all the talk of a possible $20 billion valuation for Groupon. But, there’s another tech IPO that’s moving forward. Pandora, the online music service, may be shooting for a valuation as high as $1.45 billion, according to the FT.
So, what’s the story with Pandora? Check out five key facts below:
1. Mo’ money: at first, Pandora talked about raising $100 million. Now it’s upping the ante to $141.6 million.
2. Goin’ to the max: the upper end of shares being offered is 15.7 million, with a price ranging from $7 to $9.
3. Losing proposition? Pandora lost $1.7 million on $137 million in revenue on its last fiscal year. Are we looking at a return to the days of big IPOs for companies that aren’t making money?
4. Big Apple deal: Pandora is going to list on the NYSE under the symbol “P”.
5. Pump up the volume: the company’s registered user base surged from 45 million in 2010 to 82 million in 2011, with listener hours jumping from 1.8 billion to 3.8 billion in the same period.
Sources: FT, IR magazine