OAKLAND, CA (Hypebot) – Pandora is planing a $100 million IPO for early in 2011.
The music streaming service reportedly met with bankers last week and is expected to name which one will lead the IPO within days.
Pandora has blown past 75 million listeners in recent months and beat most of its competitors onto new platforms from Roku boxes to inside many new automobiles. But the gains come at a cost.
With more listeners, the delivery costs and royalty payments rise. Despite also making great strides at attracting marquee advertisers, a $100 million IPO would go a long way towards covering Pandora's operating costs, as well as, help solidify its already strong position.
