Opera Limited generated $128.9 million in operating revenue, with a net income of $6.1 million, in 2017. Now the company is going public.
An initial public offering (IPO) filed with the U.S. Securities and Exchange Commission on Friday suggests the company plans to raise $115 million, according to its F-1 document.
Opera makes the majority of its revenue through deals with the search engine Google through the world except for Russia. Yandex holds the exclusive relationship with Opera in Russia for search, ads, and licensing. In 2017, Google accounted for 43.2% of operating revenue, and Yandex accounted for 12.9% of operating revenue.
In 2016, Opera was split into two -- the software/advertising business and the browser business. The software/advertising business went to a Chinese consortium led by billionaire Zhou Hongyi’s Qihoo 360 for $1.2 billion and then renamed Otello.
The Chinese companies acquired the web browser, the consumer products and the Opera brand.
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