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IPO Filed for Danger

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Written by Chris Dvoriak   
Friday, 21 December 2007 02:51
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Danger, the company behind the ultra popular T-Mobile Sidekick mobile devices has filed their request for an Initial Public Offering, a move that will bring the company needed capital as they continue to expand their cell phone line of mobility devices.

Danger is seeking $100 million dollars at initial launch, a move that will help pay down $7.2 million dollars in bank loans, with the remainder being aimed at running the daily operatings at the company including research and development into new cellular devices.

In 2007 Danger had 923,000 customers and earned $54.6 million dollars in revenue. The company did however meet a loss of $12.4 Million.

The company did announce that they will seek partnserships with carriers outside of their current T-Mobile scope, hoping to expand their market which is currently controlled by T-Mobile which provides 92% of the companies earnings.

You can Read more at MocoNews