With all of the Sidekicks you see all over the place, you'd think that Sidekick maker Danger, Inc. would be rolling in money, right? Nope. Apparently they're $7 million or so in the hole after reporting $28 million in net losses for the fiscal year ending this past Sept. 30. While that sounds like a giant loss, it's actually not atypical for a large startup that's been relying mainly on private funding.
So Danger has said they're going to pursue an initial public offering and Reuters is reporting they're hoping to raise $100 million. The money would be used to pay off debt and serve as working capital for the company that enables data and Internet services for T-Mobile USA's armada of Sidekick devices. The devices themselves are made by Sharp and Motorola.
Danger also generates revenue from "Hiptop" branded handsets and services available in Europe and Australia.
Read the full Reuters' report from here.