Pandora radio is the personalized internet radio service that helps you find new music based on your old and current favorites. This is what they have in their about page:
With Pandora you can explore this vast trove of music to your heart’s content. Just drop the name of one of your favorite songs, artists or genres into Pandora and let the Music Genome Project go. It will quickly scan its entire world of analyzed music, almost a century of popular recordings – new and old, well known and completely obscure – to find songs with interesting musical similarities to your choice. Then sit back and enjoy as it creates a listening experience full of current and soon-to-be favorite songs for you.
This company has followed the path of Linkedin and got listed in the US stock market. The online music service priced its initial public offer above $16. Tekedia has maintained that while Linkedin is a good buy, Pandora could be over priced because of the competition from Apple, Google and Microsoft that will offer similar services in the near future. The Google Music could cripple this small company.
Recall that when Linkedin was $90+, Tekedia gave it a share value of $50. It is around $65 now and we think it will still go down. Our six months target price of Pandora is $8. It is around $13.40 now.
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