Gogo is a provider of WiFi for on board flights. Its services are available in major airlines like US Airways, Delta and American Airlines. It also provides services to thousands of business aircraft. Despite the high-flying services of the company, its shares fell on its debut offering in the Nasdaq.
Gogo did manage to sell more than 11 million shares at the peak of its price at around $17. It debuted with an initial price of $16. This allowed the company to raise more than $180 million. The shares of the company has fallen by 6% since then. Now Gogo is valued at around $1.4 billion in total.
Aside from the internet and data services, Gogo also provides on-demand movies and TV shows during flights. It also sells gear to business jet makers providing it with a very large market and plenty of room for expansion. The company is set to benefit from the increase in the use of private business jets.
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