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Online radio firm Pandora floats for $2.6bn in New York

15 June 2011 Last updated at 22:25 BST

The US internet radio service Pandora Media rose sharply on its debut on the New York Stock Exchange, before falling back.

The firm, which has yet to make a profit, had an offering price of $16 (£9.76) a share.

It rose as high as $26 a share on Wednesday before settling down to around $18.75.

Jillian Martin reports.