Pandora (P) Looks to Hit the Market Running, Looks To Price IPO at $7-$9 Per Share
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Pandora Media (NYSE: P) announced last week it will offer 13,684,000 common shares at $7-9 per share and trade under the ticker symbol "P" on the New York Stock Exchange.
Let's take a look at some company stats ahead of the securities Wall Street debut:
As of April 2011 the company had over 90 million registered users and was adding a new registered user every second, implying 31,536,000 new users annually. As of March 22 2011, LinkedIn (Nasdaq: LNKD) reported more than 100 million registered users, spanning more than 200 countries and territories worldwide. Facebook, the creme of the crop in the social networking space, currently has more than 600 million active users.
The company has more than a 50 percent share of all internet radio listening time among the top 20 stations and networks in the United States, according to a November 2010 report by Ando Media, an audience measurement and ads management firm.
Pandora's Music Genome Project provides users with similar songs compared to the artists fans have or are listening to. The website consists of over 800,000 songs from over 80,000 artists.
Of Pandora's 90 million plus users, 34 million are "active," recording 1.6 billion hours of music play between the beginning of February and the end of April. For the same period last year, Pandora had 53 million registered users, 18 million which were active, and recorded 700 million hours of music played.
Pandora users can listen to music from their computer or smartphone as the company has applications for Google's (Nasdaq: GOOG) Android, Research In Motion's (Nasdaq: RIMM) Blackberry, and Apple's (Nasdaq: AAPL) iPhone. To date, the Pandora app has been downloaded more than 50 million times on the most popular smartphone platforms in the United States. The company has also partnered with the makers of over 200 consumer electronics devices, including Alpine, Panasonic (NYSE: PC), Pioneer, Samsung and Sony (NYSE: SNE).
According to a September 2010 report by Nielsen, the Pandora app is a top five most used app across all four major smartphone platforms in the United States. In January 2011, the Pandora app was the #2 all-time downloaded free iPhone app and the #1 all-time downloaded free iPad app, according to Apple.
The company has also made relationships with companies in the automotive industry to integrate the Pandora service into current and future sound systems. General Motors (NYSE: GM), Hyundai and Toyota (NYSE: TM) have publicly announced plans for future Pandora integrations, while talks are still going on with Ford Motor Company (NYSE: F), Mercedes-Benz and MINI (BMW Group).
Pandora’s revenue was $55.2 million, $137.8 million, and $51.0 million in fiscal 2010 and 2011 and the three months ended April 30, 2011, respectively. Net loss was $16.8 million in 2010, $1.8 million in 2011 and $6.8 million last quarter. The company is currently estimating operating losses on an annual basis through at least fiscal 2012.
Let's take a look at some company stats ahead of the securities Wall Street debut:
As of April 2011 the company had over 90 million registered users and was adding a new registered user every second, implying 31,536,000 new users annually. As of March 22 2011, LinkedIn (Nasdaq: LNKD) reported more than 100 million registered users, spanning more than 200 countries and territories worldwide. Facebook, the creme of the crop in the social networking space, currently has more than 600 million active users.
The company has more than a 50 percent share of all internet radio listening time among the top 20 stations and networks in the United States, according to a November 2010 report by Ando Media, an audience measurement and ads management firm.
Pandora's Music Genome Project provides users with similar songs compared to the artists fans have or are listening to. The website consists of over 800,000 songs from over 80,000 artists.
Of Pandora's 90 million plus users, 34 million are "active," recording 1.6 billion hours of music play between the beginning of February and the end of April. For the same period last year, Pandora had 53 million registered users, 18 million which were active, and recorded 700 million hours of music played.
Pandora users can listen to music from their computer or smartphone as the company has applications for Google's (Nasdaq: GOOG) Android, Research In Motion's (Nasdaq: RIMM) Blackberry, and Apple's (Nasdaq: AAPL) iPhone. To date, the Pandora app has been downloaded more than 50 million times on the most popular smartphone platforms in the United States. The company has also partnered with the makers of over 200 consumer electronics devices, including Alpine, Panasonic (NYSE: PC), Pioneer, Samsung and Sony (NYSE: SNE).
According to a September 2010 report by Nielsen, the Pandora app is a top five most used app across all four major smartphone platforms in the United States. In January 2011, the Pandora app was the #2 all-time downloaded free iPhone app and the #1 all-time downloaded free iPad app, according to Apple.
The company has also made relationships with companies in the automotive industry to integrate the Pandora service into current and future sound systems. General Motors (NYSE: GM), Hyundai and Toyota (NYSE: TM) have publicly announced plans for future Pandora integrations, while talks are still going on with Ford Motor Company (NYSE: F), Mercedes-Benz and MINI (BMW Group).
Pandora’s revenue was $55.2 million, $137.8 million, and $51.0 million in fiscal 2010 and 2011 and the three months ended April 30, 2011, respectively. Net loss was $16.8 million in 2010, $1.8 million in 2011 and $6.8 million last quarter. The company is currently estimating operating losses on an annual basis through at least fiscal 2012.
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