Champagne glasses must be clinking for a few, lucky Southern California investors and executives this morning, as the IPO of Oakland-based Pandora Media had a rousing welcome on Wall Street. Pandora was trading as high as $26.00 Wednesday during morning trading, after pricing at $16.00 per share last night, well above the $10.00 to $12.00 estimated pricing range from last week. The firm was trading around $19.00 at the time of this article. The Southern California linked-investors with connection to Pandora include Peter Gotcher, founder of Los Angeles-based Topspin Media, who had around 1.6M shares of the firm before IPO; Howard Morgan, of Idealab, who had around 250,000 shares of Pandora before IPO; and Pandora co-founder Jon Kraft, now COO of Twitter client firm UberMedia, with around 690,000 shares before the IPO. Pandora debuted on the NYSE as "P".
Top NewsWednesday, June 15, 2011
Pandora IPO Benefits Socal Investors