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.
T-Mobile's LTE Network Covers 300 Million People
T-Mobile said its LTE 4G network now reaches 300 million Americans, a significant milestone for the Uncarrier. The company says it is ahead of schedule, and will add coverage to one million square miles this year.
Sprint Falls to Become No. 4 US Carrier
Sprint reported its second quarter earnings today and the numbers reveal it has fallen behind competitor T-Mobile in the total number of customers. T-Mobile, which gained a total of 2 million new customers during the second quarter, reported a total customer base on 58.9 million.
FCC Fines Chinese Firm $35M for Selling Cell Jammers
The FCC today levied a fine of $34.9 million against a China-based company for marketing and selling illegal cell signal jammers in the U.S. The FCC says CTS Technology marketed some 285 different types of signal jammers to U.S.
T-Mobile Seeking Funds, Will Sell Stock
T-Mobile today said it intends to raise capital by selling up to 17.4 million shares in stock. T-Mobile said it will use the proceeds from the sale for "general corporate purposes, including capital investments and acquisition of additional spectrum." T-Mobile said the money won't be used for the AWS-3 spectrum auction, which is taking place right now.
Sorry couldn't resist