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Pandora’s Sales More Than Double; June IPO Seen as Likely

Pandora Media Inc., the Internet-music company preparing for an initial public offering, said revenue more than doubled last quarter and its user base topped 90 million, solidifying its lead in streaming radio.

Sales rose to $51 million in the three months ended April 30, from $21.6 million a year earlier, the Oakland, California-based company said today in a regulatory filing. The company said it expects to complete the share sale by the end of June.