IPO

Billboard writer encourages backing dedicated Net radio services: "So much potential exists"

Friday, May 31, 2013 - 12:35pm

Earlier this week came news of a milestone listening mark, $25 million in new capital, and a new CFO for TuneIn, the Internet radio tuning and aggregation service and makers of one of Net radio's most popular mobile apps (our coverage is here).

The San Jose Mercury News points out (here) one of the investors is Google Ventures. That Google, the one that just launched their own streaming music service (more here). That new CFO, Axel Martinez, by the way, is from Google. Martinez was Google's assistant treasurer and took part in managing Google's investments.

The Mercury News also suggests that hiring a CFO can be taken as a sign of a company's intention to go public. Institutional Venture Partners, which led the funding, calls it a "late stage" fund "that typically invests in a company once it's closer to a potential IPO," the paper wrote.

Whether TuneIn becomes the field's second public Internet radio company (after Pandora), columnist Glenn Peoples at Billboard says the investment is a "good sign for radio" and "confirms the appeal of traditional radio while bolstering the notion the traditional radio market is ripe for disruption."

The service announced listeners had streamed over a billion hours of content in the year's first four months. While TuneIn (and Pandora, for that matter) still represents just a sliver of worldwide radio listening, these figures "are clear evidence that consumers enjoy radio in an easy-to-use mobile app or web-based service," Peoples wrote. "Investors should continue to put money into the Internet radio space because so much potential exists."

Mentioning Apple's anticipated entry into Internet radio as a possibility, he concludes, "A huge, global market is just waiting to be disrupted by companies that focus only on Internet radio." Read more in Billboard here.

New York Times offers visual on Facebook's mass

Friday, May 18, 2012 - 11:00am

You're likely well aware that today is Facebook IPO day. While that's mostly outside our coverage area, we did want to pass along this cool interactive graphic from The New York Times (please click through to see it in action).

It really puts into perspective the massive scale of Facebook's valuation (compared even to Google, Groupon, etc.).

See the graphic in action here.

 

2/11: Pandora files for $100m IPO

Friday, December 23, 2011 - 11:00am

Pandora goes publicPandora is officially going public. The company late today filed for a $100 million initial public offering (IPO)... (read more here)

The move makes the service — now apparently adding a new registered user “every second” — “unique among Internet-music companies…none has gone public since Napster went bankrupt in 2002,” writes Bloomberg.

The move also opens up once-private financial information about the company. Today RAIN dives into Pandora’s SEC filing to uncover new information about the Internet radio titan... (read more here)

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