Pandora, Groupon IPOs

IPO RODEO FOR TECH COMPANIES: Pandora is looking to raise as much as $123.2 million in an IPO. The Oakland-based company will offer 13.7 million shares for $7 to $9 each, according to an SEC filing. The $8 midpoint of the offering range would value Pandora at $1.27 billion, or about 9.2 times sales. Morgan Stanley, JPMorgan Chase and Citigroup are leading the offering. The shares will list on the NYSE under the symbol "P." Pandora, which made about 87% of its revenue last year from ad sales, has booked net losses every year since at least 2007 even as revenue increased 33-fold… In other IPO action, Groupon will make a public launch of about $750m. The N.Y. Post notes that Groupon is considered the fastest-growing company of all time. It went from $30.5 million in revenue in 2009 to $713.5 million in 2010 to $644.8 million in the first three months of 2011. The company has 83m subscribers worldwide, up from 150k in June 2009. (6/3a)