Pandora looks to raise new funding

VentureBeat reports that Pandora Media, the music streaming service, has decided to sell 10 million shares of its common stock which is expected to bring in $230.8 million (assuming a share price of $23.99). The stock sale will also include 4 million shares from CrossCapital Inc., the largest stakeholder in Pandora.  The company recently announced the appointment of Brian McAndrews to the role of President and CEO.