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Now if the stock of the day it is called pandora.
Itself full box at the moment.
The IPO price was sixteen is now at twenty a look at the volume 22 million jazz have been traded.
In -- about 56 minutes worth of business.
-- the company now is -- the president and CEO all pandora Joseph Kennedy joining us.
On the floor of the New York Stock Exchange mr.
I -- put it that it put it to you like this you'll financials do not justify the stop -- that you've seen this morning.
I think you cashing in on the Internet a new Internet bubble and -- you know.
We're not focused on the stock price for -- despondent in enormous opportunity to redefine one of the major consumer categories -- radio.
And define what radio can be in this Internet connected age delivering people are dramatically better experience that's our focus that's what we're gonna continue to execute against.
But certainly ever have their earnings to justify the valuation at this point ending your content cluster like 50% of your revenues in order to increase your -- You're going to be bumped in on that music you might actually -- subscribe.
-- -- the whole thing.
I got investors will set the stock prices were focused on providing a great experience to our listeners.
We've demonstrated a track record of growing revenue.
Improving margins and cash -- over time but today we have 3% of all radio listening this country we think we have an enormous opportunity to -- that.
And make him nor something you can listen -- easily in the car in the home all the places people -- -- use pandora and that's our biggest -- Still -- to -- -- competition at bay doesn't seem like there are great barriers to entry here for somebody else to come and as we've seen in this in the high tech space.
Like we saw what MySpace and we -- could know all too well there's always somebody else -- on the horizon that's come out with a bigger and better.
Well pandora builds on over eleven years of intellectual property starting with the music genome project.
Which which started back in 2000.
We've been building the intellectual property do what we do to personalize.
Our radio listening experience we believe better than anywhere in the world.
We continue to invest in that.
And and believe we can strengthen our leadership as the best in the world.
At personalizing our radio listening expert what you're saying is you -- you've you've you've got to redefine.
You have put that into simple English only give me a couple sentences on what you mean by redefining.
Why I think just later Stuart Varney has his station on him -- on holding something it's not something that anyone else -- and so.
The great opportunity is virtualization.
And the Internet because it's -- one -- one kind of back and forth connection enables us to personalize and and we bring a tremendous amount of intellectual property.
In terms of enabling that and making it a great personalized radio experience what you off to a great start -- believe -- now worth about ninety million bucks as of right now is that correct mr.
I have no idea I'm not watching yeah entirely focused on the experience.
That we deliver to you and all of our other users -- well good -- so you're off to a great start and we appreciate you being with us thanks very much did you -- in the first place.
So aggressive you -- always discuss -- may not be looking at the price now but he's certainly planning the after parties for when the closing bell rings that price is great idea -- -- -- in a personalized radio and eat bananas are taking nothing away from it is a great idea and you know people are buying the stock for future earnings potential.
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