12 Feb '11, 3am

Pandora hopes IPO a path to profit: OAKLAND - LEADING US Internet radio service Pandora on Friday filed plans wi...

OAKLAND - LEADING US Internet radio service Pandora on Friday filed plans with US regulators for an initial public offering of stock to raise as much as US$100 million (S$128 million). Pandora indicated that it is going public in a bid to get the money it needs to grow and become profitable, and to deal with an accumulated operating deficit of US$83.9 million. 'A key element of our strategy is to aggressively increase the number of listeners and listener hours to increase our market penetration,' Pandora said in a filing with the US Securities and Exchange Commission. 'However, as our number of listener hours increases, the royalties we pay for content acquisition also increase,' the filing noted. Pandora's revenue has not been enough to offset the cost of paying royalties on songs, and getting big enough to tip the balance with more paid advertising is essential, the star...

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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asiaone.com 11 Feb '11, 9am

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