Gogo Files For IPO
Inflight WiFi company Gogo has filed for a $100 million IPO. Gogo has raised a total of over $500 million in funding. Gogo provides in-flight connectivity to 9 out of 10 airline companies in North America. Gogo has a trial agreement with United Airlines and Air Canada. As of September 30, 2011, Gogo equipped about 1,177 planes with Internet access and represents 85% of Internet-enabled commercial aircrafts. Gogo is operated on more than 4,200 daily flights.
Gogo launched WiFi connectivity in 2008 and has provided over 15 million WiFi sessions to over 4.4 million registered unique users. Gogo posted revenues of $36.8 million in 2009, $94.7 million in 2010, and $113.8 million in the first nine months of 2011. In profits, Gogo suffered losses in the past three years. They lost $140 million in losses in 2010 and $26 million in the first nine months of 2011.
Earlier this year, Gogo revealed that they will be expanding to a multimedia platform for airlines, news, movies, shopping deals, etc. American Airlines became one of the first North American airlines for testing Gogo’s in-flight streaming video to personal devices.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry