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Virgin Mobile USA, the joint venture between Sprint and Richard Branson’s Virgin Group, has managed to raise $412, about $50 million less than they’ve hoped for. Despite the fact that Virgin Mobile USA is doing well, the market is still cautious on the virtual carriers. The shares were priced at $15 (the low-end of its $15-$17 range) and after the first day of trading we saw them moving slightly up, at one point hitting $16.63, before settling around $15.50.
Following the IPO, Sprint Nextel kept a reduced stake of around 17.2%, while Virgin Group got about 35.7% of the company. Roughly 44% of the MVNO was floated…
[Via: paidContent.org]
About The Author
Dusan Belic
Dusan has been using smartphones since their introduction and is now following the latest trends in the industry. The "convergence" is what he's most excited about, and writing about it is the next logical thing to do. He thinks that using a smartphone is what everyone who cares about their time should do. In addition to his interests in mobile phones, Dusan also loves to experiment with the latest web and mobile 2.0 services. The idea of accessing and managing your information from any device no matter where you are simply amazes him. Whether it's an online to-do list, note taking service or a video sharing social network, he's there to try it out. He admits though, he's still searching for the ultimate web-based organizational tool, which "sings" perfectly with the mobile PIM application. Dusan used to run SymbianWatch.com which later became part of IntoMobile. He lives in Serbia, South-East Europe, from where he edits the site on a daily basis.
