In completing its IPO, it sold a total of 14.7m shares at $16 (?9.76) each. This far exceeded the recent guide price of $10-12 (?6.10-7.32) a share, which has been raised anyway from an initial $7-9 (?4.27-5.49) a share pricing.

Pandora has managed to keep going in a very difficult marketing, using a deft app strategy to grow its user base. Building apps for multiple handsets has seen over 50% of new users coming to it via mobile.

A study ...