Pandora IPO Value Jumps 50 percent

After LinkedIn's skyrocketing IPO, Pandora Media has raised the value of its initial public offering by nearly 50 percent, to $161.5 million. The online radio company hopes to get investor attention and compete with other Internet companies like LinkedIn, whose shares are doing well despite the recent market downturn. Pandora's IPO will represent 14,684,000 shares valued at $10 to $12 each. The music-streaming company has 90 million registered users and makes most of its money from advertising. Increased values for IPOs for LinkedIn and Pandora indicate that technology is still one of the hotter buys on the market, although some are concerned the IPO surges could be overrated.