Pandora IPO: Who's Making A Mint?

Who's Getting Rich Off Of Pandora's IPO

Pandora was worth an estimated $2.6 billion early Wednesday morning. Just a few hours later, the still-unprofitable company saw its value soar to $4.2 billion, its stock price leaping from $16 per share to over $20 per share.

Who stands to make a mint off of the company's IPO?

Though Pandora's founder Tim Westergren will make millions, he isn't the top earner from the IPO. Westergren holds a 2.3 percent stake in the company that amounts to around $83 million with Pandora's stock price at $22.84 a share, according to the Wall Street Journal. LinkedIn CEO Reid Hoffman, on the other hand, owned a 21.7 percent stake in LinkedIn that was worth over $1.6 billion on the day of his company's IPO.

Rather, it is Pandora's team of investors--including Greylock Partners, Hearst, and Crosslink Capital--that stand to make the most off of Pandora's market debut.

The Wall Street Journal has broken down how much money each group stands to earn off of their investment in the music streaming site. Assuming Pandora stock is worth $22.84 per share , the Journal estimates that the largest shareholder's stake, belonging to Crosslink Capital, will see the value of its share of the company rise to $799 million (See the full list here).

See the ownership table from Pandora's S-1 filing with the Securities and Exchange Commission below:

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