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Pandora music service wants to go public

The music-streaming service Pandora has announced its IPO. He is handled by the investment banks Morgan Stanley and JP Morgan Securities. How many shares are issued at what price, the company left open.

Pandora uses a designated as a “music genome” algorithm to compile based on a single song or artist personalized Internet radio station. The service is offered as a paid subscription. There is also an ad-supported free version as well as mobile applications.

In fall 2008, Pandora’s existence was in jeopardy because the U.S. had been delayed in the deliberations on a bill to license fees for Internet radio stations. The company threatened to go out the money. The decision was ultimately made by the legislature in favor of Pandora. According to Chief Technology Officer Tom Conrad of Internet radio provider posted profit for the first time in the final quarter of 2009.

According to the U.S. Securities and Exchange Commission has filed application for jewelry in the United States over 80 million users. The music catalog includes more than 800,000 songs. In the first nine months of 2010, Pandora recorded at 90 million in revenue loss of $ 328,000.

With its planned IPO follows Pandora other successful start-ups. These include the competitor Xing, LinkedIn, whose value is now estimated at $ 2 billion, and the content providers Demand Media, whose securities are already traded on the exchange.

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