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Silicon Valley-based Elevation Partners, which counts Bono as one of its co-founders and managing directors, is on the verge of grabbing a significant stake in a "leading online music company," which TechCrunch concludes is Pandora. “Sources close to the situation” told TechCrunch that the deal would be valued at around $100 million. The streaming service has north of 50 million registered users and chalked up around $50 million in revenue last year.... Apple has emailed invitations (though not to us) to its next show-and-tell, scheduled for next Wednesday (9/1) in San Francisco. Paul Resnikoff of Digital Music News, who was invited, speculates that “something music-related is definitely cooking... The evite features a close-up of an acoustic guitar, with the sound hole stylized in the shape of the Apple logo. That has some pointing to a fresh slate of iPods—customary around this time of year—though a cloud-focused announcement may also be ahead. Of course, Apple is keeping mum.”… That MySpace Music extreme makeover we told you about yesterday is really quite impressive compared to some of the horrific messes we’re used to seeing on the site. Nonetheless, it is kinda weird to see an ad trumpeting “FREE HAIR REMOVAL” in the middle of The Decemberists’ otherwise elegantly understated design. The ads keep rotating, so you never know what's gonna show up within the architecture of the page. At any rate, there’s an upgrade page where bands can undertake redesigns of their own profile pages; it’ll be interesting to see whether they take the trouble to make the much-needed improvements…