Palo Alto-based
Danger, AKA sidekick company who is also a developer of mobile platforms and services, has filed to raise up to $100 million in a NASDAQ IPO. The company behind the T-Mobile Sidekick device and related services says it did
revenues of $54.6 million in the fiscal year ending Sept 30, up 14 percent from the previous year’s revenue of $49.3 million.
But be careful, Danger’s earnings essentially depend upon T-Mobile. And, while they’ve seen revenue grow from $49.3 to $56.4 million in the past few years, Danger’s been bleeding cash to the tune of $11.7 million in 2007 - up from just $8 million in 2006.
Danger has filed with the SEC to offer an IPO that should net the company $100 in cash - enough to pay back $7.2 million in loans and spend the rest to make more money. The company intends to go live with their IPO “as soon as practicable” and will be trading under the “DNGR” ticker-symbol.
As a customer new sidekicks are coming more often and as an investor another nice place to invest .
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