Pandora Celebrates Initial Public Offering And First Day Of Trading On The New York Stock Exchange

NEW YORK, Jun 15, 2011 (BUSINESS WIRE) Pandora

, the leading internet radio service, opened for trading today on the New York Stock Exchange (NYSE) under the ticker symbol P after its initial public offering in which it raised $234.9 million in gross proceeds. Joe Kennedy, CEO & President and Tim Westergren, Founder & Chief Strategy Officer, joined by members of Pandoras management team, celebrated the companys first day of trading on the NYSE by ringing The Opening Bell(SM).

We are thrilled to welcome Pandora to our community of innovative tech companies, said Scott R. Cutler, EVP and Co-Head of U.S. Listings and Cash Equities, NYSE Euronext. Pandora has transformed the music experience for millions across the country with its inventive Music Genome Project(R). We congratulate Pandora on its IPO and look forward to a long-standing partnership with the company and its shareholders.

We are excited and honored today to call the P symbol at the New York Stock Exchange our own, said Joe Kennedy, Pandora President and CEO. NYSEs experience and enthusiasm for Pandora make them an ideal partner as we look to continue our vision of providing personalized radio to listeners anytime and anywhere. We also thank our entire team, and all those who have helped us reach this milestone.

As of May 31, 2011, NYSE Euronext (NYX) led the U.S. market for Initial Public Offerings (IPOs) and new listings both in total capital raised as well as number of transactions for 2011, with $23.4 billion in IPO proceeds raised on the New York Stock Exchange through a total of 53 IPOS (including funds). Pandora joins a series of recent notable TMT listings including: Freescale Semiconductor (FSL); The Active Network (ACTV); LinkedIn (LNKD); Sequans Communications (SQNS), 3D Systems Corporation (DDD); Demand Media (DMD); NeoPhotonics (NPTN); IMAX (IMAX) and Youku.com Inc. (YOKU).

About Pandora

Pandora gives people music they love anytime, anywhere, through connected devices. (OK, weve added comedy as well so were also up for playing some jokes youll love.) Personalized stations launch instantly with the input of a single seed a favorite artist, song or genre. The Music Genome Project(R), a deeply detailed hand-built musical taxonomy, powers the personalization of Pandora(R) internet radio by using musicological DNA and constant listener feedback to craft personalized stations from a growing collection of hundreds of thousands of recordings. Tens of millions of people in the U.S. turn on Pandora to hear music they love. www.pandora.com (source:Pandora Media)(source:Inc.)

About NYSE Euronext

NYSE Euronext (NYX) is a leading global operator of financial markets and provider of innovative trading technologies. The companys exchanges in Europe and the United States trade equities, futures, options, fixed-income and exchange-traded products. With approximately 8,000 listed issues (excluding European Structured Products), NYSE Euronexts equities markets the New York Stock Exchange, NYSE Euronext, NYSE Amex, NYSE Alternext and NYSE Arca represent one-third of the worlds equities trading, the most liquidity of any global exchange group. NYSE Euronext also operates NYSE Liffe, one of the leading European derivatives businesses and the worlds second-largest derivatives business by value of trading. The company offers comprehensive commercial technology, connectivity and market data products and services through NYSE Technologies. NYSE Euronext is in the S&P 500 index, and is the only exchange operator in the Fortune 500.

by: dynamic02

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