On Thursday, Shares of Fitbit Inc (NYSE:FIT), skyrocketed 48.40% to $29.68.
Fitbit, declared the pricing of its initial public offering of 36,575,000 shares of its Class A common stock at a price to the public of $20.00 per share. Fitbit is offering 22,387,500 shares and certain selling stockholders are offering 14,187,500 shares. In addition, the selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 5,486,250 shares of Class A common stock.
Morgan Stanley, Deutsche Bank Securities, and BofA Merrill Lynch are acting as active joint book-running managers for the offering. Barclays and SunTrust Robinson Humphrey are acting as passive joint book-running managers and Piper Jaffray, Raymond James, Stifel, and William Blair are acting as co-managers.
Fitbit Inc. provides wearable fitness-tracking devices worldwide. The company makes both wrist bands and clippable devices that monitor a user’s fitness activity by tracking the calories burned or distance covered.
Shares of Frontier Communications Corporation (NASDAQ:FTR), inclined 0.40% to $5, during its last trading session.
Frontier Communications Corporation, accepted offers from the Federal Communications Commission (FCC) totaling more than $283 million in annual Connect America Fund (CAF) Phase II support to deploy broadband to more than 650,000 high-cost rural locations throughout its 28-state service area.
The FCC established the CAF in 2011 to facilitate broadband deployment to the millions of American living in rural areas without access to broadband infrastructure. In 2012 and 2013, the FCC issued CAF Phase I, one-time interim support for deployment of broadband access to unserved and underserved locations. Frontier took part in that round of funding and invested $133 million of CAF Phase I funding in addition to its own capital to deploy or upgrade broadband service to nearly 200,000 locations. This additional support will enable Frontier to continue accelerating broadband deployment across its footprint.
Frontier Communications’ investments over the past four years have made broadband service accessible to more than 1.1 million new households throughout the company’s service areas. In addition to enabling first-time broadband access to formerly unserved households, Frontier has made noteworthy investments in broadband speeds and services for all of its customers. Frontier has also introduced simplified broadband offerings and bundled service packages that provide customers with choice and affordable options. CAF Phase II funding will enable Frontier to continue expanding these offerings to additional areas in its markets.
Frontier Communications Corporation, a communications company, provides regulated and unregulated voice, data, and video services to residential, business, and wholesale customers in the United States.
Finally, Yahoo! Inc. (NASDAQ:YHOO), ended its last trade with -0.12% loss, and closed at $40.91.
BrightRoll, a division of Yahoo, declared the international expansion of its technology infrastructure into Hong Kong with Equinix, the global interconnection and data center company. This move highlights the growth of digital advertising in the Asia Pacific region (APAC) and increasing demand for BrightRoll’s programmatic video advertising solutions across the region.
According to eMarketer, APAC boasts over 1.33 billion Internet users - the largest online population of any region in the world - which attracted a total digital ad spend of $41B in 2014. With expansion into Equinix’s Hong Kong data center facilities, advertisers can access the BrightRoll Marketplace in APAC and connect to thousands of publishers in the region, counting Yahoo owned and operated (O&O) inventory.
BrightRoll delivers scalable programmatic solutions that enable advertisers to maximize ROI on video ad spend, while assisting publishers maximize revenue for their video ad inventory. Benefits of this newest data center comprise:
- Access to more inventory: Advertisers can connect to the BrightRoll Marketplace in APAC via their demand side platform (DSP) and bid on inventory to reach new audiences in the region.
- More successful bids: DSPs will experience lower latency once connected to the new Hong Kong data center and have more time to make better decisions on behalf of advertisers.
- Raised efficiency: Publishers connected to the new Hong Kong data center will be exposed to new demand sources, while experiencing lower latency, raised impression rates, a reduction in waste and maximization in revenue opportunity.
- Better ad viewing experience: Consumers in APAC will experience 50 percent reduction in latency and an overall better ad viewing experience, resulting from the data center’s planned location to the broader APAC region.
Yahoo! Inc. provides search and display advertising services on Yahoo properties and associate sites worldwide. The company offers Yahoo Search that serves as a starting point to navigate the Internet and discover information; and Yahoo Answers, which enables users to seek, discover, and share knowledge and opinions across mobile phones, tablets, and desktops.
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