With no profit, Pandora Media soars in debut
NEW YORK (Reuters) – Pandora Media Inc shares soared as much as 48 percent in their market debut as investors shrugged off fears that the online radio service might never turn a profit.
The stock opened at $20 on Wednesday — implying a market value of about $3.2 billion — and later traded as high as $23.75 before falling back to $18.19, up 14 percent amid a broader market downturn.
With no profit, Pandora shares soar in market debut
NEW YORK (Reuters) – Pandora Media Inc shares soared as much as 48 percent in their market debut as investors shrugged off fears that the online radio service might never turn a profit.
The stock opened at $20 on Wednesday — implying a market value of about $3.2 billion (1.98 billion pounds) — and later traded as high as $23.75 before falling back to $18.87, up 18 percent.
Pandora shares soar in market debut
NEW YORK, June 15 (Reuters) – Pandora Media Inc (P.N: Quote, Profile, Research, Stock Buzz)
shares soared as much as 48 percent in the online radio
company’s stock market debut, as investors flocked to get a
piece of the latest Internet start-up, even though it has yet
to turn a profit.
Pandora shares opened at $20 on Wednesday — implying a
market value of about $3.2 billion — and later traded as high
as $23.75 before giving back some of those gains.
Pandora prices at $16 per share, above range
NEW YORK, June 14 (Reuters) – Online radio company Pandora
Media (P.N: Quote, Profile, Research, Stock Buzz) priced shares in its initial public offering above an
already raised range on Tuesday, the latest company to take
advantage of red-hot valuations for Internet companies.
The company priced its shares at $16 each, according to a
source familiar with the deal. The company raised $235 million
based on 14.7 million shares it planned to sell, according to a
government filing.
Pandora increases IPO value by 48 percent
NEW YORK (Reuters) – Online radio company Pandora Media Inc raised the proposed value of its initial public offering by almost 50 percent, hoping to catch the investor fever that has taken Internet companies such as LinkedIn to new heights.
The Oakland, California-based company wants to raise about $161.5 million, representing 14,684,000 shares priced at $10 to $12 each.
Apple relaxes rules for media Apps
NEW YORK/SAN FRANCISCO (Reuters) – Apple on Thursday handed a big victory to publishers by dropping demands they sell subscriptions through its App Store, a rare reversal for the iPad makers.
Apple now allows publishers to set pricing for subscriptions while no longer requiring them to sell subscriptions within the App Store.
In media win, Apple relaxes rules for content
NEW YORK/SAN FRANCISCO, June 9 (Reuters) – Apple Inc
(AAPL.O: Quote, Profile, Research, Stock Buzz) handed a big victory to publishers by dropping demands
they sell subscriptions through its App Store, a rare reversal
for the iPad makers.
Apple now allows publishers to set pricing for
subscriptions while no longer requiring them to sell
subscriptions within the App Store.
Yahoo’s Ross Levinsohn: We’re still No. 1
As Yahoo’s Executive Vice President of the America’s region, Ross Levinsohn’s task is to transform the image of the lumbering Internet giant to one with a passing resemblance to the darling of the 1990s dotcom era when it called the shots. Though, investors ascribed virtually all of Yahoo’s market value to its prized Asian assets – a major stake in China’s hot Alibaba Group and Yahoo Japan – brushing aside Yahoo’s core U.S. business.
A long time Internet player, Levinsohn, who also headed News Corp’s Fox Interactive Media, sat down with me and Kenneth Li during Internet Week in New York and explained how Yahoo needs to fix its image problem, how much of a distraction the tussle in Asia over Alipay was, and how he expects advertising dollars to continue to migrate to Yahoo.
The real deal? Groupon files for public offering
, June 2 (Reuters) – Daily
deals site Groupon Inc filed for an initial public offering,
hoping to capitalize on the biggest investor stampede into Web
start-ups since the dotcom bubble burst a decade ago.
The company filed on Thursday to raise up to $750 million
in its IPO, an offering that has been speculated about for
months and that will be watched as a barometer of whether
Internet valuations have become too rich.
The real deal? Groupon files for stock sale
NEW YORK (Reuters) – Online daily deal site Groupon Inc filed for an initial public offering, hoping to capitalize on the biggest investor stampede into Web start-ups since the dotcom bubble burst a decade ago.
The company filed on Thursday to raise up to $750 million in its IPO, an offering that has been widely speculated about for months and would be among the most closely watched of the year.
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