DALLAS, June 16, 2011 (GLOBE NEWSWIRE) -- MicroStockProfit.com announces an investment report featuring Pandora Media Inc. (NYSE:P) and detailing its Initial Public Offering. The report includes investment and industry information you need to know to make an educated investment decision.
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Pandora Media Inc. (P) is an Internet radio company in the United States. As of January 31, 2011, it had more than 80 million registered users. The Music Genome Project and its playlist generating algorithms enable it to deliver personalized radio to its listeners. When a listener enters a single song, artist or genre to start a station, a process it calls seeding, the Music Genome Project together with its playlist generating algorithms, allows it to instantly generate a station. It generates revenue from advertising. It also offers a subscription service to listeners. The Pandora service allows listeners to seed personalized stations with artists, composers, songs and genres or choose stations organized by genre. Listeners can create up to 100 personalized stations and use its QuickMix combination feature to listen to two or more of their stations at one time.
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In the report, the analyst notes:
"Shares of Pandora Media (P) jumped as high as $26 on their trading debut on the NYSE, opening at $20 and closing down at $17.42. The stock saw trading at a volume of over 42 million shares."
"P's initial public offering on Tuesday was priced at $16 a share, topping the recently raised pricing range of $10 to $12. The Company raised $235 million in gross proceeds, selling 14.7 million shares. The deal values the Internet radio company at $2.6 billion."
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