{"id":441803,"date":"2011-06-15T19:42:07","date_gmt":"2011-06-15T19:42:07","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/06\/15\/pandora-online-music-shares-debut\/"},"modified":"2011-06-15T19:42:07","modified_gmt":"2011-06-15T19:42:07","slug":"pandora-online-music-shares-debut","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/06\/15\/pandora-online-music-shares-debut\/","title":{"rendered":"Pandora online music shares debut"},"content":{"rendered":"

15 June 2011<\/span> Last updated at<\/span> 15:42 ET<\/span><\/span><\/p>\n

The US internet radio service Pandora Media rose sharply on its debut on the New York Stock Exchange, before falling back.<\/p>\n

The firm, which has yet to make a profit, had an offering price of $16 (\u00a39.76) a share.<\/p>\n

It rose as high as $26 a share on Wednesday before settling down to around $18.75.<\/p>\n

The share price values the company at about $3bn, which is well above the current value of AOL, for example.<\/p>\n

Pandora is the latest in a series of high-profile internet share sales, with LinkedIn already having floated and Groupon planning a listing.<\/p>\n

LinkedIn has a market capitalisation of about $7bn.<\/p>\n

Facebook is also expected to launch on the stock market in the next year.<\/p>\n

Pandora started out as a music recommendation service called Savage Beast Technologies in 2000.<\/p>\n

It changed its name in 2005 when it launched an internet radio service, which allows users to create custom radio stations by specifying which artists and genres they want to hear.<\/p>\n

It has 94 million registered users and makes most of its money through advertising.<\/p>\n<\/div>\n<\/p>\n

More:
\nPandora online music shares debut<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

15 June 2011 Last updated at 15:42 ET The US internet radio service Pandora Media rose sharply on its debut on the New York Stock Exchange, before falling back. The firm, which has yet to make a profit, had an offering price of $16 (\u00a39.76) a share. It rose as high as $26 a share on Wednesday before settling down to around $18.75. <\/p>\n","protected":false},"author":0,"featured_media":441804,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":{"0":"post-441803","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-local-news"},"yoast_head":"\nPandora online music shares debut - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2011\/06\/15\/pandora-online-music-shares-debut\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Pandora online music shares debut - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"15 June 2011 Last updated at 15:42 ET The US internet radio service Pandora Media rose sharply on its debut on the New York Stock Exchange, before falling back. 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