Pandora seeks to be next billion-dollar IPO

June 3, 2011

Online music service Pandora has just priced its IPO, according to Business Insider. If the big number falls in the middle of its range, the company will reach a valuation of $1.3 bn, despite losing $1.7 mn on $137 mn in revenue in its last fiscal year.

This may seem like small money following LinkedIn’s $10 bn debut and a Groupon IPO that could start at a valuation of $20 bn. Nonetheless, it may help reinvigorate a relatively quiet IPO market.

Source: Business Insider