Pandora is primed to take a big step forward with its Initial Public Offering. The music streaming giant is just the latest social media establishment to go public, joining the likes of Fusion-io, LinkedIn, and Yandex; all of which saw significant increases and beneficial success from going public. Pandora’s IPO is expected to open at $16 a share which is up from the $7-$9 range that was first announced by the company.
Pandora’s move to go public is due to the success the company has enjoyed in the last fiscal year plus. The company posted revenues of $51 million in the 3 months since their fiscal year ended January 31, 2011, up $29.6 million from this time last year. Pandora also claims to be adding a new registered user every second and has over 94 million users.
There is a lot riding on the continued success of the social media sector’s going public. Many investors and the like are hoping as each company comes public, the market will see the benefit.
This wave of these types of companies going public is a boon to the social media community and to how integral a part of today’s business world they are. If you, as a business owner, are not involved with social media revolution and the benefits it can bring your inbound marketing strategies, then you are not recognizing the true potential of your company.
If you want to join the revolution and have no idea where to start, contact JASE Digital Media today.
image credit: naillkennedy on flickr
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