Synacor (NASDAQ:SYNC) provides services which allow cable and telecommunications providers to offer hosted and managed platforms. In particular, Synacor offers a platform onto which its customers end users can sign on and gain access to packaged online content and services. These services includes email, online games, movie, and security. Synacor makes money by displaying ads to the end users and by charging fees for value added services. Part of this revenue is shared with the company's direct customers - the cable and telecom companies.
For the first nine months of 2011 ended in September, Synacor reported a total revenue of $62M. This resulted in a net income of $2.2M. For the same period in 2010, Synacor had a total revenue of $48M and a net loss of $3.2M 
The company's initial public offering of stock on the NASDAQ occurred on February 9, 2012. The company offered 6.8M shares each for $5. This was at the low end of the $5-$6 revised price range. The company had initially announced that it would price in the $10-$12 range. The deal raised a total of $34M. The lead mangers of the deal were BofA and Citi.
Synacor generates a substantial portion of its revenue through a search agreement with Google. In return for directing search queries on the platform through Google, Synacor receives a portion of the per-click payment Google receives from its search ads. While this relation is key to Synacor's revenue, the two companies compete as online media distribution channels. While Synacor does not compete with Google for its clients, they do compete for end internet users. These internet users use both Google's and Synacor's platforms to easily access online content and services.