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Update 4:30 ET: The market rallied at the end of the day, so AOL finished down only 11% with a market cap of $1.43 billion. That’s still behind Pandora, which is at $1.87 billion.
AOL’s stock has dropped almost 30% today after a disastrous earnings report.
That gives the company a market cap of about $1.1 billion.
Pandora, which just went public a couple months ago, is worth about $1.8 billion.
That’s shocking. AOL has been around for more than 20 years, has the number-five Web property in the U.S. with an audience of more than 100 million (as per ComScore), and had quarterly sales of $542 million.
Pandora is pretty big with more than 80 million registered users, but its revenue is about one-tenth the size: $51 million in its last quarter.
But Pandora is growing. AOL is stagnant. And that’s what matters to the market.