Danger files for $100M IPO
One of the more important privately held companies operating in the consumer wireless industry today, Danger has filed this week to go public with the SEC "as soon as practicable" in an effort to raise up to $100 million in cold, hard cash under the symbol "DNGR." The SEC filing is a gold mine of information peeping into the inner workings of the outfit, revealing that Danger is "substantially dependent" on T-Mobile for its revenue stream (surprise, surprise) and that while overall revenue has grown from $36.7 to $49.3 to $56.4 million in the past three years, losses have actually widened over the past two from $8 million in 2006 to $11.7 million this year. Of course, it costs money to make money -- Danger clearly knows that -- and they intend to use $7.2 million of the IPO's proceeds to pay back some loans, hopefully on the path to eventual profit. No word yet on exactly when the IPO will go down or how many shares will be outstanding.
[Via mocoNews]
