Peter Gotcher
Age: 51
About: Pandora director since September 2005. Gotcher is an independent private investor focusing on investments in digital media technology companies. He was a venture partner with Redpoint Ventures from September 1999 to June 2002 and a venture partner with Institutional Venture Partners from 1997 to September 1999. Gotcher has won an Oscar, Grammy and Emmy for his technical achievements.
Shares owned prior to offering: 1,595,380
Shares offered in IPO: None
Shares owned after offering: 1,595,380
Value of shares at IPO price ($16.00): $25.5 MILLION
Thomas “Tom” Conrad
Age: 41
About: Chief Technical Officer and Executive Vice President, Product for Pandora
Shares owned prior to offering: 2,566,686
Shares offered in IPO: 247,236
Shares owned after offering: 2,319,450
Value of shares at IPO price ($16.00): $37.11 MILLION
Tim Westergren
Age: 45
About: Pandora co-founder, Chief Strategy Officer and Director. Served as CEO and president from May 2002 to July 2004.
Shares owned prior to offering: 3,644,991
Shares offered in IPO: None
Shares owned after offering: 3,644,991
Value of shares at IPO price ($16.00): $58.3 MILLION
Joseph “Joe” KennedyAge: 51
About: Chief Executive Officer, President and Chairman of the Board of Pandora. Has served in that role since July 2004.
Shares owned prior to offering: 4,229,267
Shares offered in IPO: None
Shares owned after offering: 4,229,267
Value of shares at IPO price ($16.00): $67.7 MILLION
The Hearst Corp.
About: One of the nation’s largest diversified media companies, with interests in magazine, newspaper and business publishing, cable networks, TV production and broadcasting, radio broadcasting, Internet businesses, and real estate. Hearst is represented on Pandora’s board by Scott English (pictured), senior vice president of Strategic Investments for Hearst Interactive Media.
Shares owned prior to offering: 8,734,506
Shares offered in IPO: 4,367,253 for proceeds of $69.9 MILLION
Shares owned after offering: 4,367,253
Value of shares at IPO price ($16.00): $69.9 MILLION
GGV CapitalAbout: GGV Capital, formerly known as Granite Global Ventures, is an early-stage venture firm based in Menlo Park, Calif. Its Pandora shares include 7,727,689 shares held by Granite Global Ventures III L.P. and 125,652 shares held by GGV III Entrepreneurs Fund L.P. GGV is represented on Pandora’s board by Partner
Glenn Solomon (pictured).
Shares owned prior to offering: 7,853,341
Shares offered in IPO: None
Shares owned after offering: 7,853,341
Value of shares at IPO price ($16.00): $125.6 MILLION
Labrador VenturesAbout: Labrador is a seed-stage venture fund based in Palo Alto, Calif. The firm’s shares are held by a vintage 2004 fund called Labrador Ventures V-B, L.P. Labrador is represented on Pandora’s board by Partner
Larry Kubal (pictured).
Shares owned prior to offering: 12,905,162
Shares offered in IPO: None
Shares owned after offering: 12,905,162
Value of shares at IPO price ($16.00): $206.5 MILLION
Greylock PartnersAbout: Founded in 1965, Greylock makes early-stage and growth-stage venture capital investments. It has offices in Menlo Park, Calif., Boston, India, Israel and England. The firm is represented on the Pandora board by Partner
David Sze (pictured).
Shares owned prior to offering: 21,450,675
Shares offered in IPO: None
Shares owned after offering: 21,450,675
Value of shares at IPO price ($16.00): $343.2 MILLION
Walden Venture CapitalAbout: Walden is a San Francisco-based venture firm that focuses on early-stage investments in digital media and cloud services for consumers and the enterprise. Represented on Pandora board by Managing Director
Larry Marcus (pictured).
Shares owned prior to offering: 28,468,309
Shares offered in IPO: None
Shares owned after offering: 28,468,309
Value of shares at IPO price ($16.00): $455.5 MILLION
Crosslink CapitalAbout: Crosslink is a San Francisco-based firm that focuses on growth investments in both early stage private and public companies. Represented on Pandora board by General Partner
Jim Feuille (pictured).
Shares owned prior to offering: 34,964,928
Shares offered in IPO: None
Shares owned after offering: 34,964,928
Value of shares at IPO price ($16.00): $559.4 MILLION
Five venture capital firms are going to wake up stinking rich on Wednesday, thanks to the successful IPO of Pandora, which operates an Internet music sharing service. As a group, the five firms own 105.6 million shares, which are worth $1.69 billion at the IPO price of $16 per share. And they’re not the only ones. The Hearst Corp. is sitting pretty, too, as are Pandora co-founder Tim Westergren and several other insiders.
Peter Gotcher
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