Pandora IPO At $16 A Share Before The Bottom Falls Out
Pandora is a great idea and many fans, somewhere in the 5 Million, though I'm not one of them.
Essential, it is a celestial radio with a humoungous playlist. Type in the name of a band, it will play the band you requested, and then stream similar streaming bands interrupted by commericlas, unless you subscribe and then you get none.
The problem is that it is all a little stunted, right?
Any way, they've lost money hand over fist for a coupla years now (killed by kicking back half their revnues to the majors) and to be honest, may have missed their chance.
Or maybe not. Pandora's value has gone from 1.3B to 206B overnight. Why, because they just started an IPO with 10% of the company shares.
Or maybe so. It has fallen below $12 in subsequent trading as it fails to compete with Linkedin -the most annoying website on earth.
Doesn't this remind anybody of the 1990s when the .com bubble busted?
