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Boingo Wireless (WIFI) |
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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 |
Boingo Wireless (NASDAQ:WIFI) runs WiFi hotspots around the world and allows customers to access the internet easily from these locations regardless of what device they are using. Boingo makes money by charging individuals for either a monthly subscription, a hotspot specific plan, or a onetime use access pass. The company also makes money by charging telecom operators a fee to use their distributed antenna system (DAS). Telecom operators pay this fee in order to allow their cell phone customers to use this antenna system. Finally, Boingo receives money from advertisers who run campaigns on the landing pages of Boingo's sites.[1]
The increase in web enabled devices such as smartphones, laptops, and tablet computers has increased the demand for constant connection to the internet. In addition, individuals frequently rely on Software as a Service tools and so require access to the internet in order to complete their computational tasks. Boingo's wireless network allows customers in high traffic areas to gain access to the internet. As a result, the continued proliferation in web enabled devices and the increasing reliance on the internet for computation is beneficial to Boingo.[2]
The company's initial public offering of stock on the NASDAQ occurred on May 3, 2011. The company offered 5.85M shares each for $13.50. This was within the price range of $12-$14. The final deal was $78M. The lead underwriters of the deal were Credit Suisse Group (CS) and Deutsche Bank AG (DB).[3]
References
- ↑ Renaissance Capital - IPO Home PROSPECTUS SUMMARY "Company Overview" pg 1
- ↑ Renaissance Capital - IPO Home PROSPECTUS SUMMARY "Industry Overview" pg 1
- ↑ Renaissance Capital - IPO Home "Boingo Wireless prices IPO at $13.50, within the range" 3 May 2011<ref> For the full year 2010, Boingo reported a total revenue of $80.4M and a net income of $16.3M. This was an increase from the 2009 revenue of $65.7M and net income of $1.4M.<ref>[http://www.sec.gov/Archives/edgar/data/1169988/000104746911004288/a2203546zs-1a.htm Renaissance Capital - IPO Home PROSPECTUS SUMMARY "Summary Consolidated Financial Data " pg 6]</li></ol></ref>
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