Pandora Eyes $100M IPO

Pandora's about to open a new box, reports the LA Times: The Internet radio service filed yesterday for an IPO it hopes will raise $100 million and give it the chance to turn a profit for the first time. Though some 80 million listeners tune in, Pandora is largely free; it lost $16.8 million for the fiscal year ended Jan. 31, 2010, but only $300,000 from that period through Oct. 31, 2010. It coughs up 60% of its revenues to pay performance royalties.

As CEO Tim Westergren told the CES last month: "We've been through a long road to get here. This company should have been dead long ago. But now I can be more ambitious about what we can accomplish. It's surreal." No initial share price was announced. (More Pandora stories.)