That’s nice: the profit-free streaming music service Pandora has successfully gone public, raising $235m in the process. The public offering values the company at $2.6bn - twice as much as what it hoped for back in February, and not too shabby for an outfit that hasn’t yet turned a profit and is faced with rising royalty costs …
"people don’t channel hop regular radio"
An advert comes on, I hit the next preset.
And it's because they're so long
I can go to another channel and listen to an entire song during an radio break. Ads on the net are so short it's just too much bother.
What kind of financial idiocy..
..values a startup in the billions, fifty times turnover and before any profit has been made?
Have they learned nothing?
Anyway, I'm looking forward to the hugely overpriced flotation of the space telescope. Can't wait for the Hubble bubble :)
Which particular iteration of the dot.com bubble are we on this year?
what really galls me is that the bubble bursting tends to drag down lots of decent tech compannies with it. By decent I mean ones that actually have viable products and services and actually turn a profit occasionally.
Watch the share price as the market shorts the absolute shit out this share. There's only one way this share price is going.
Odd that Pandora is shooting for growth when hundreds of superior services have emerged as Pandora has become less and less consumer friendly.
Listen to ads on Pandora or play any song you want, whenever you want, on Grooveshark for free with no ads.
HMM WONDER WHICH TO CHOOSE.
"here's a picture of a cow's arse. You can look at it for 10 minutes a day for free, but if you pay us $9.99 a month, you can look at it as long as you like!"
Where do I sign up???
sign me in
pandora is the only that uses science to determine which new bands *that you don't know, you might like. i don't have time to look for new music, but pandora helped me a lot in finding and buying new music. unfortunately they aren't playing in europe anymore.
i would definitely buy shares in pandora. i think it will end up being bought by a big music retailer.
Not for £2.6bn they won't
a) They're skint to (see HMV)
b) £2.6*m* would be more appropriate, especially given lack of profits and market share
c) no global coverage
Maybe they pay in Bitcoins?
It's anyway to feed on people's addictions. So then the stock traders can convert their divident into marching powder at no conversion loss.