The online world is buzzing over the news that Pandora online radio is going public. After 11 years of operation, the company will offer $100 million in common stock, "as soon as practicable after the effective date of this Registration Statement," the audio streamer announced on its recent Security and Exchange Commission S-1 form.
This news is a major milestone in the history of online radio. Pandora says that it served 80 million registered users as of January 2011, and it signs up a new one every second. With 800,000 songs in its catalog, the Oakland, California company has cornered around half of all Internet radio listening among the top 20 online stations and networks in the United States, according to one survey.
"Since we launched the Pandora service in 2005, our listeners have created over 1.4 billion stations," the SEC document adds.
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