Tech

Opera Receives $ 115 Million Revenue After Initial Public Offering

Opera, an alternative to the browser market where Google dominates Chrome, was able to generate $ 115 million with its public offering.

Norwegian-based software company Opera has collected public offer requests and earned a huge income today. The company managed to sell 9.6 million deposits each from 12 dollars. American depositary shares are used to allow foreign company shares to be traded in US markets, and these conditions are also provided for Opera. Opera, founded in Norway, was bought by a Chinese consortium in 2016, but the business center remained in Oslo. In the Nasdaq stock market, Opera's symbol is OPRA

Opera is one of the longest-running browsers on the market. Beginning in 1994 as a research project in Telenor, Norway's largest telecommunications company, Opera has managed to remain stable in the market every period. The company reported net income of $ 128.9 million in 2017, while reporting income of $ 107.3 million and net loss of $ 12.7 million in 2016. Opera reported net income of $ 6.6 million over $ 39.4 million in the first three months of 2018.

The company earns money by partnering with search engines, including Google and Yandex. Opera has 264 million active users on smartphones and 57 million monthly on personal computers. In 2017, the company started to offer artificial intelligence-based news service with the browser, and now it serves as an independent application called Opera News. Opera News, a news application, is reported to have 90 million users per month.

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Opera retained its independence for a long time, but in 2016 it was purchased by a Chinese consortium for $ 1.2 billion. Competing with Google Chrome on the computer side, Opera also competes with competitors such as Apple's Safari browser, Mozilla Firefox and Microsoft Edge. StatCounter reports that Opera is using 3.5 percent on computers and 4.6 percent on smartphones

Source:
                    https://www.cnet.com/news/opera-browser-raises-115-million-in-initial-public-offering/