Ipo on Pandora Media

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Submitted by to the category Business and Industry on 10/13/2013 07:35 PM

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Company Overview

Pandora Media Inc., was incorporated as a California corporation in January 2000 and reincorporated as a Delaware corporation in December 2010. The name Pandora means "all gifted" in Greek. In ancient Greek mythology, Pandora received many gifts from the gods, including the gift of music, from Apollo. She was also, as we all know, very curious. Unlike those gods of old, however, we celebrate that virtue and have made it our mission to reward the musically curious among us with a never-ending experience of music discovery.

 Pandora provides an internet radio service in the United States, Australia and New Zealand. Pandora markets itself offering a personalized experience for each of its listeners. The Company has developed a customized form of radio that uses inherent makings of music to initially create stations that will adapt playlists in real-time based on the users/listeners feedback of each listener.

Pandora’s fiscal year is 1 February through 31 January and references to the first, second, third and fourth fiscal quarters refer to the three months ended April 30, July 31, October 31 and January 31, respectively. As of January 31, 2013, Pandora had approximately 175 million registered users, which equates as the total number of accounts that were created for the service at fiscal year-end. As of January 31, 2013 approximately 140 million registered users have accessed Pandora through smartphones and tablets. For the fiscal year ended January 31, 2013, Pandora streamed 14.01 billion hours of radio and as of January 31, 2013, it had 65.6 million active users during the prior 30 day period. According to a December 2012 report by Triton, Pandora had more than a 70% share of internet radio among the top 20 stations and Networks in the United States. As of...

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