News Byte

Boingo Wireless Drops in First Day of Trading

Paid Wi-Fi specialist Boingo Wireless saw its stock drop Wednesday in the first day of trading after its public offering. The stock priced at $13.50 a share, toward the high end of its expected range. However, it opened down and kept going, closing at $12.10, down 10.37 percent.

At $13.50 Per Share, Boingo IPO Prices Toward High End of Range

Boingo Wireless said late on Tuesday that its public offering was completed at a price of $13.50 per share, toward the high end of the $12 to $14 range the company had projected. The firm, which specializes in selling paid Wi-Fi to consumers and network operators, is due to start trading Wednesday under the ticker symbol WIFI.

Boingo IPO Will Test Whether Investors Believe in Paid Wi-Fi

The expected public offering this week of Boingo Wireless will offer both a heat check for the tech market and explore whether investors believe Wi-Fi can offer a money-making opportunity in an age where cellular connectivity is nearly ubiquitous.

Merry Christmas! You Get Wi-Fi.

Google, Microsoft and Yahoo are all offering some form of courtesy Wi-Fi through the holiday season, at venues such as airports, hotels and Times Square. Each has a relatively new service it’s hoping to attract consumers to, whether it’s Google’s Chrome browser, Microsoft’s Bing search engine or Yahoo’s revamped home page and customization features.