Pandora Seeks $100M in IPO
Pandora claims 50 percent market share for Internet radio with 80 million registered users.
Pandora says it has 50 percent share of all Internet radio listening time among top 20 stations and networks in the U.S.
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 U.S. In January 2011, the Pandora app was the No. 2 all-time downloaded free iPhone app and the No. 1 all-time downloaded free iPad app, according to Apple.
Pandora offers its radio service for free, generating its revenues through advertising. The service plays roughly one minute of audio ads per hour of listening. Display and video advertising are served when users interact with Pandora, such as when they change a station or thumbs-up a song.
In fiscal 2010, Pandora had $55.2 million in revenue. But in only nine months ended Oct. 31, 2010, Pandora had revenues of $90.1 million. Losses narrowed dramatically during that time. In fiscal 2010, Pandora had a net loss of $16.8 million compared to $0.3 million in the nine months ended Oct. 31, 2010.
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Julie Jacobson is founding editor of CE Pro, the leading media brand for the home-technology channel. She has covered the smart-home industry since 1994, long before there was much of an Internet, let alone an Internet of things. Currently she studies, speaks, writes and rabble-rouses in the areas of home automation, security, networked A/V, wellness-related technology, biophilic design, and the business of home technology. Julie majored in Economics at the University of Michigan, spent a year abroad at Cambridge University, and earned an MBA from the University of Texas at Austin. She is a recipient of the annual CTA TechHome Leadership Award, and a CEDIA Fellows honoree. A washed-up Ultimate Frisbee player, Julie currently resides in San Antonio, Texas and sometimes St. Paul, Minn. Follow on Twitter: @juliejacobson Email Julie at email@example.com
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