Archive for the ‘online free music’ Category

1308089464 32 Pandora Ups IPO Price  Eyes 2 billion dollar Value   HispanicBusiness.com

Online music service Pandora.com is hearing the jingle of money. Hoping to cash in on the current boom for tech companies, streaming music station Pandora bumped up the share price of its scheduled initial public offering Friday, eyeing a valuation of about 2 billion dollars. In a filing to the Securities and Exchange Commission, Pandora, which plays music suited to the individual tastes of its users, said it was raising the price of its shares from between 7 to 9 dollars, to 10 to 12 dollars each. with almost 15 million shares up for sale, the company is hoping to raise some 180 million dollars. The share offering is expected to be finalized next week. It comes after other internet companies like LinkedIn saw heavy demand for shares that valued the company at close to 10 billion dollars when it went public last month. Pandora, based in Oakland, California, has reported a sharply growing user base in recent months and now has 90 million users. according to media measurement firm Nielsen, it is the top free app of all time for the iPhone and is one of the five most used apps on all kinds of smartphones in the US. The company makes its money through advertising, or premium subscriptions. It almost went out of business in 2007 because of high licensing fees demanded by record companies, but has since reached a better deal.