NetQin Mobile Inc. (NYSE:NQ) is a mobile software company located in China which makes Software-as-a-Service (SaaS) security and productivity products. The company's security products includes software such as malware scanners, firewalls, and ant-theft. NetQin's productivity tools help to screen calls, filter spam, and manage cloud syncing. The company makes money by charging users subscription fees for some of its premium services. While the company is focused primarily in China, it has customers across the globe.
The rise in Internet usage in China as a result of the growing middle class has increased the demand for NetQin's services. As internet and mobile penetration rises, individuals will continue to rely increasingly on their mobile devices. In order to protect their privacy and improve their productivity, these users, both in China and elsewhere, will increasingly demand the services that NetQin provides.
The company's initial public offering of stock on the NYSE occurred on May 4, 2011. The company offered 7.75M shares each for $11.50. This was at the high end of the $9.50-$11.50 initial price range. This offering raised a total of $89M. The lead manager of the IPO was Piper Jaffray Companies (PJC).
For the full year 2010, NetQin reported a total revenue of $17.7M. This was an increase over the $5.3M reported in 2009. In terms of net income, the company reported a net loss of $9.8M in 2010. This was a rise in net loss from the $5.2M net loss reported in 2009.