News Summary: Gogo IPO slumps in market debut

News Summary: Stock of in-flight Internet provider Gogo slow to connect on 1st day of trading

Associated Press

LOW-FLYING IPO: Gogo Inc., which provides in-flight Wi-Fi service on major U.S. airlines, had a bumpy debut on the Nasdaq stock market.

RISKY TIMING: The initial public offering of stock on Friday came right after a two-day slump market slump. The Dow Jones industrial average had dropped 560 points, making investors nervous about stocks.

GROWTH PLANS: Gogo dominates the in-flight Wi-Fi market in North America and is seeking to expand internationally but still isn't making money. First-quarter revenue grew 30 percent, but the company's loss widened to $32.5 million.

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