San Francisco – Private equity firm Elevation Partners is
preparing to acquire a large stake in streaming music service Pandora, sources
close to the situation told TechCrunch.
The firm has reportedly signed a letter
of intent to acquire a large amount of shares in a "leading online music
company" from an early investor.
Different sources told TechCrunch that
Elevation was close to a deal that would be valued at around $100 million, and
the article postulates that this refers to the pending Pandora deal.