Pandora
Pandora Media, Inc., formerly Savage Beast Technologies Incorporated, is an internet radio service in the United States, Australia and New Zealand. Pandora Media, Inc. is a free personalized radio that plays music and comedy. It has music and comedy alike that all can enjoy. You just have to start with the name of a favorite artist, song, comedian or composer and Pandora will create a custom station that plays those similar tracks for your hearing. There are hundreds of music and comedy genre stations ranging from dance music, to smooth jazz to power workout music. You can listen wherever and whenever you are in the mood for great music.
Chief strategist officer Tim Westergren founded the company in 2000 and Pandora went public in 2011. When Mr. Westergren was asked the question what made him go public with Pandora, his response was that the IPO presented itself to them but they didn't have a particular plan. When you have certain level of confidence in your business, and when some liquidity is useful, those are the two principal drivers.
Bridge Bank, National Association was the investment banker however, Crosslink Capital Inc., Pandora’s biggest stockholder, will sell an additional 4 million shares, according to the filing. Underwriters include JPMorgan Chase & Co. Morgan Stanley and Wells Fargo & Co. had a 30-day option to purchase an additional 2.1 million shares, potentially increasing Pandora’s proceeds to almost $280 million. Crosslink Capital will remain Pandora’s biggest shareholder. The company will hold 25 million shares, or about 13 percent of the outstanding stock, after the sale, according to the filing. “In January 2011, Pandora met with investment banks to consider a possible $100 million IPO. The company then filed with the SEC for a $100mm IPO on February 11, 2011 and officially began trading on the New York Stock Exchange with ticker symbol "P" on June 15, 2011 at a price of $16/share. This gave them a valuation of nearly $2.6
Chief strategist officer Tim Westergren founded the company in 2000 and Pandora went public in 2011. When Mr. Westergren was asked the question what made him go public with Pandora, his response was that the IPO presented itself to them but they didn't have a particular plan. When you have certain level of confidence in your business, and when some liquidity is useful, those are the two principal drivers.
Bridge Bank, National Association was the investment banker however, Crosslink Capital Inc., Pandora’s biggest stockholder, will sell an additional 4 million shares, according to the filing. Underwriters include JPMorgan Chase & Co. Morgan Stanley and Wells Fargo & Co. had a 30-day option to purchase an additional 2.1 million shares, potentially increasing Pandora’s proceeds to almost $280 million. Crosslink Capital will remain Pandora’s biggest shareholder. The company will hold 25 million shares, or about 13 percent of the outstanding stock, after the sale, according to the filing. “In January 2011, Pandora met with investment banks to consider a possible $100 million IPO. The company then filed with the SEC for a $100mm IPO on February 11, 2011 and officially began trading on the New York Stock Exchange with ticker symbol "P" on June 15, 2011 at a price of $16/share. This gave them a valuation of nearly $2.6