Danger Files for IPO
Danger is seeking to raise $100 million in cash in an initial public offering. Danger, which pioneered the T-Mobile SideKick, said it will use $7.2 million of the raised funds to repay bank loans and the remainder to fund operations. Danger has 923,000 customers and earned $54.6 million during its 2007 fiscal year, though it saw a net loss of $12.4 million. T-Mobile generated 92% of Danger's earnings. Danger hopes that more of its revenue will come from other sources in the future.
Sorry couldn't resist