Wednesday, June 15, 2011

Pandora Prices Its I.P.O. at $16 -

Apparently some people believe there is room for a non-iTunes music service

The online music service Pandora may not be profitable, but that hasn’t discouraged investors clamoring for a piece of it.

Pandora Media on Tuesday priced its initial public offering at $16 a share, above its recently raised target range. The company, whose shares will start trading on the New York Stock Exchange on Wednesday under the ticker “P,” has raised $234.9 million, valuing the business at $2.6 billion.

Pandora Prices Its I.P.O. at $16 -

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