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WIKI ANALYSIS
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This company completed an initial public offering (IPO) of its stock in 2010. View articles that reference this company. Recent IPOs: Globe Specialty Metals • LogMeIn • Invesco Mortgage Capital • Medidata • Chemspec |
Motricity (MOTR) (NASDAQ:MOTR) is a web-based mobile data services provider for wireless carriers. It offers services to access the internet using mobile phones, helps market and distribute mobile content and application, messaging services and billing. Its top customers are Verizon Wireless, AT&T, Sprint and T-Mobile USA. Since 2005, Motricity has helped carriers create $2.5 billion in gross revenue. [1]
The industry of mobile data has rapidly evolved in recent years. Due to the demand for mobile content and each mobile device having different operating systems, the wireless data market has become increasingly complex. Furthermore, non-carrier companies like Apple and Google have entered the market to possibly take away market share for mobile data services. [1]
The company's initial public offering of stock filed on the NASDAQ and went public on 18 June 2010. The company's stock priced at $10.00, the low end of the price range $10.00-$11.00. The company offered 5.0 million shares to raise $50 million. [1]
For the FY2009 with year ended 31 December 2009, the company had $113.7 million in total revenue, up 10.2% from $103.2 million in total revenue for FY2008. Furthermore, the company had a net loss of $16.3 million from FY2009, an increase from a net loss of $100.5 million from FY2008. The revenue mix includes 71.6% in managed services and 28.4% in professional services. [1]
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