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Pandora ipo hit removed from box
JobS weeklyjob fairplace an adcareerS and worklife blogbuSineSS blogSalary wizardSearch new carSSearch pre actually operated carSvehicle reviewSclaSSic carS blogthe bike blog2013 fall auto Show guide(Pdf file)S.Fransisco internet radio station pandora media's ipo struck the right chord with investors wednesday despite the static in the overall stock market.
Pandora's stock surged as much 63 percent in their market debut before pulling back later in the session.The voices closed at $17.42, Still a decent gain amid the consumer broader decline.It marked a 9 percent increase from pandora's initial public offering valuation on $16 and a nearly six fold increase from what pandora's own board thought the stock was worth just six months ago.
The performance shows the recent Sale pandora earrings market slump hasn't dampened the enthusiasm investors have for new stock offerings from growing rapidly internet services.
The excitement began to build after shares of premium networking site
"Everyone appears to be getting gold rush fever, said analyst of inside electronic media. "People are starting to believe possible gold in every stream or around every hill, but that's not the truth,
Pandora ceo said he won't allow his 360 employee company to get up to date in the hysteria. "I am not jumping along right now, kennedy said in a saturday interview. "I just see this as another step toward creating a great company,
Kennedy, 51, manages 4.2 million Pandora provides, A stake now truly about $74 million.
The warm wall street reception for pandora pegged send out market value at $2.8 billion dollars.That's already more than the $2 billion cost of aol inc, web pioneer hailed as a next great media powerhouse at the height of the dot com boom 11 years ago.
Around the same time frame, pandora was only starting as a music recommendation company then known as.
Pandora adopted its current name in 2005 when it morphed into a new type of radio station that streams music on the internet.What makes pandora distinct from broadcast radio is that it can employ computer formulas to learn each of its individual listeners' tastes in order to create personalized song lists.
Edge has been a hit with music lovers, helping pandora build an audience of 94 million users who mostly listen to the service on home and office computer and mobile phones.A lot more claims, located in oakland, calif, is now striking deals to supplant traditional stereo in cars, just as satellite television service Cheap Pandora Bracelets inc.Already has been doing.
Unlike the registration driven sirius, pandora gets Sale pandora charms australia about 85 percent of its revenue from press.Subscribers pay $36 annually to hear better quality sound without commercial interruptions.
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