Pandora Hits with IPO

Shares of the Internet radio company were trading at $22 Wednesday morning, 37.5% higher than Pandora’s opening $16/share price for its debut on the New York Stock Exchange. Pandora is not yet a profitable company: it lost $1.8 million on $137.8 million in revenue in 2010, as Mashable reports. Yet its successful IPO bodes well for other Internet companies that are likely to go public in the coming months, including Facebook and Zynga.