Pandora Media is seeking to raise about $100 million in an initial public offering, Financial Times reports. The filing lists Pandora founder, Tim Westergren, as holder of 2.4% of its shares at January 31, with venture capital firm, Crosslink Capital, the largest shareholder with 23%.
Morgan Stanley, JPMorgan Chase, William Blair and Stifel Nicolaus Weisel will handle the IPO, adds Bloomberg. The California-based company posted a net loss of $328,000 on revenue of $90.1 million in the first nine months of its most recent fiscal year.
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