In-flight Wi-Fi provider GoGo is looking to raise as much as $100 million through an initial public offering, one of the latest technology companies to take advantage of an open IPO window. Based in Itasca, Illinois, GoGo is hoping to trade on the Nasdaq under the ticker symbol GOGO.
The company currently provides its technology to about 85 percent of aircraft in North America that have Internet connectivity. Among its clients is Seattle’s Alaska Airlines.
Last year, GoGo entered into a $4.1 million standby credit facility agreement with Alaska Airlines to finance the construction of the ATG network sites in Alaska.
Other customers include Delta, US Airways, Virgin and American, with GoGo reporting revenue of $72 million for the first nine months of the year. That compares to revenue of $35 million for the same period in 2010.
It showed net income of $2 million for the first nine months of year, compared to a net loss of $117 million for that period in 2010.