Report: Pandora Expects to Raise $141.6M in IPO

RADIO ONLINE | Thursday, June 2, 2011 | 3:10pm CT

According to an updated SEC filing on Thursday, Pandora said it expects to raise up to $141.6 million in its Initial Public Offering (IPO). The Internet broadcaster is planning to offer about 15.7 million shares at $7.00 to $9.00 each reports Forbes. In an updated S-1 filing last week, Pandora posted $51 million in Q1 revenue, up a whopping 136% from $21.6 million in the year-ago period.

Forbes also listed shareholders holding more than 5% of the company. Those include Crosslink Capital, Walden Venture Capital, Greylock Partners, Labrador Ventures, Hearst Corp. and GGV Capital.