Traded as NASDAQ: WIFI Website Boingo.com | CEO David Hagan (Nov 2004–) Type of business Public | |
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Products Wireless broadband technology and services for large public venues including Wi-Fi, distributed antenna systems (DAS) and small cells Revenue US$ 139.6 million (2015) US$ 119.3 million (2014) Stock price WIFI (NASDAQ) US$ 11.48 -0.06 (-0.52%)3 Mar, 4:00 PM GMT-5 - Disclaimer Subsidiaries Cloud Nine Media, Advanced Wireless Group, LLC Profiles | ||
Boingo Wireless is an American company that provides mobile Internet access for wireless-enabled consumer devices. The company reports having over one million small cell networks for cellular extension services (aka distributed antenna system (DAS)) and Wi-Fi access that reaches more than one billion consumers annually. The company is headquartered in Los Angeles, California.
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History
In 2001, Earthlink co-founder Sky Dayton founded Boingo to address the then-fragmented state of Wi-Fi networks. He says he saw how Wi-Fi "could help make the Internet as ubiquitous as the air we breathe".
In March 2007, Boingo acquired Concourse Communications Group, which extended Boingo's services into Wi-Fi and cellular DAS networks at airports.
On November 10, 2008, Boingo acquired Opti-Fi Networks’ Wi-Fi holdings, adding another 25 airport Wi-Fi networks to its portfolio of managed locations and bringing its total of airport Wi-Fi networks to 55.
On May 4, 2011, Boingo Wireless went public, giving the company a market cap of approximately $439 million. The stock price dropped soon afterward, and Boingo's IPO was initially viewed as "less than auspicious", but the stock recovered a year later to its IPO price.
On August 8, 2012, the company acquired Cloud Nine Media, thereby adding advertising services for sponsored Wi-Fi.
On February 21, 2013, the company acquired Endeka Group, a provider of Wi-Fi and IPTV services to military bases and federal law enforcement training facilities.
In November 2013, Boingo announced contracts with the US Air Force, US Army, and US Marines Corps to install IPTV and broadband access networks on their posts.
In September 2013, Boingo announced the acquisition of its largest competitor, Advanced Wireless Group (AWG). At the time of the announcement, AWG operated networks at 17 US airports, including Logan Airport (BOS), Detroit Metropolitan Airport (DTW), Los Angeles International (LAX), and Miami International Airport(MIA). Boingo announced that the combined entity would operate in 60 percent of North America’s top 50 airports and more than 40 percent of the world’s top 50 airports, reaching more than 1.4 billion passengers annually.
In February 2014, Boingo launched Passpoint Secure hotspot service at 24 US airports, including LAX, Chicago O'Hare and New York's JFK and LaGuardia airports. In June 2014, the company partnered with American Express to offer its Platinum card holders free wireless access.
In April 2015, Boingo struck a deal with wireless carrier Sprint Corporation to offload the carrier's customer traffic onto Boingo's Wi-Fi networks at 35 US airports. The deal was reportedly struck to improve Sprint's network performance.
As of February 2017, Boingo's market cap stood at $431.8 million.
Products and services
Boingo acquires long-term wireless rights in large venues like airports, military bases, stadiums, and universities; builds DAS, Wi-Fi and small cell networks to serve those areas; and monetizes those networks through advertising, carrier fees, or user charges.