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Pandora Rises in Biggest Internet IPO Boom Year Since 2000

Pandora Media Inc., the online-radio company, gained on its first day of trading as investors raced to benefit from the biggest surge in Internet share sales since the dot-com boom a decade ago.

The Oakland, California-based company rose 8.9 percent in its debut on the New York Stock Exchange, under the symbol P. It sold 14.7 million shares yesterday at $16 apiece, raising $234.9 million in its initial public offering. That was above the top of the range of $10 to $12.