This Day In Market History: Pandora Goes Public

Each day, Benzinga takes a look back at a notable market-related moment that occurred on this date.

What Happened? On this day in 2011, Pandora PANDY went public.

Where The Market Was: The Dow closed at 11,897.27. The S&P 500 traded at around 1,265.42.

What Else Was Going On In The World? In 2011, the U.S. military officially repealed its “Don’t Ask, Don’t Tell” policy banning homosexuals in the military. The Occupy Wall Street movement gathered in New York to protest income inequality. A U.S. postage stamp cost 44 cents.

First Music Streaming IPO: Pandora went public at a price of $16 per share and a market cap of $2.6 billion. Life on the public market wasn't particularly kind to the music streaming giant.

Pandora struggled to prove to Wall Street that its model can be profitable. In the first quarter of 2018, Pandora reported a net loss of $131.7 million. Rising competition from Spotify Technology SA SPOT, Apple, Inc. AAPL and others made Pandora’s uphill climb even steeper.

In February 2019, Sirius XM Holdings SIRI completed a $3.5-billion acquisition of Pandora Media, making it "the world's largest audio entertainment company."

Posted In: Pandorathis day in market historyEducationMarketsTechGeneral

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.