Smartphone software maker MobiTV pulls IPO

    The company withdrew its plans citing 'unfavorable market conditions.'
    News, Consumer-facing Tech

    Share

    MobiTV, the maker of software that lets smartphone users watch live television, filed for a $75 million IPO in August, but requested the SEC to withdraw the filing immediately.

    Interestingly, MobiTV has never turned a profit, according to regulatory filings, recording a net loss of $11.8 million last year even as revenue rose 27 percent to $85.1 million. Live mobile television has proven to be a challenging market, because consumers can access free on-demand services such as Google Inc.’s YouTube and subscription offerings from Netflix and Amazon.

    The company’s business is built around providing the streaming technology and then partnering with mobile-phone companies for distribution.

    Most Popular

    Editor's Choice

    StarzPlay’s tech powers India’s Lionsgate Play
    Provides managed services, developed by StarzPlay, to mark successful launch of Lionsgate Play ...
    Subscribe to Digital Studio Middle East
    The latest editor of Digital Studio Middle East, the foremost and most respected platform for ...
    Dubai's Faisal Hashmi working on feature film
    10 short films in 10 years has earned Faisal Hashmi international plaudits at film festival, ...

    Don't Miss a Story