QUOTE AND NEWS
Automotive World  Sep 3  Comment 
The second annual SYNC AppLink™ Developer Conference will be held in conjunction with TechCrunch Disrupt SF hackathon SYNC AppLink Developer Conference challenges mobile app developers to join the global Ford developer team in leveraging AppLink...
Automotive World  Jun 23  Comment 
Pro Trailer Backup Assist helps make backing up a trailer as easy as turning a knob New Special Edition Appearance Packages available on XLT and Lariat with unique wheels, graphics and finishes Compressed Natural Gas/Propane gaseous fuel prep...
Automotive World  Jun 2  Comment 
SYNC® 3 – Ford’s all-new communications and entertainment system – features faster performance, conversational voice recognition, intuitive smartphone-like touch screen and easier-to-understand graphical interface Other new features include...




 

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.[1]


Business Overview

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 [2]

New Updates

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.[3]

Trends & Forces

Competition with Google

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. [4]

  1. SYNC S-1/A 2012 PROSPECTUS SUMMARY "Our Business" pg. 1-3
  2. SYNC S-1/A 2012 PROSPECTUS SUMMARY "Summary Financial and Other Data" pg. 8-10
  3. Renaissance Capital - IPO Home "Synacor prices at $5, low end of the revised range" 10 Feb 2012
  4. SYNC S-1/A 2012 PROSPECTUS SUMMARY "Risk Factors" pg. 12-15
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