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Opera (company)

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This article is about the company. For the web browser, seeOpera (web browser).
Not to be confused withOtello Corporation(formerly Opera Software ASA).

Opera
Company typePublic company
Nasdaq:OPRA
Industry
  • Software
  • Internet
Founded1995;29 years ago(1995)inOslo,Norway
Founders
HeadquartersOslo, Norway
Key people
ProductsOpera Browser,Opera GX
RevenueIncreaseUS$397 million (2023)[3]
IncreaseUS$153 million (2023)[3]
Total assetsIncreaseUS$1.01 billion (2023)[3]
Total equityIncreaseUS$920 million (2023)[3]
Owners
Number of employees
582 (2023)[3]
Parent
Websiteopera

Opera(formerlyOpera Software AS) is a Norwegian multinational technology[6]headquartered inOslo,Norwaywith additional offices inEurope,China, and Africa. Opera offers a range of products and services that include a variety ofPC and mobile web browsers,GameMakerand gaming portals, the Opera News content recommendation products, the Opera Ads platform, and a number ofWeb3ande-commerceproducts and services. The company's total user base is 311 million monthlyactive users.[7]

On 27 July 2018, Opera Limited became a public company listed on theNASDAQ Stock Exchange,raising $115 million in itsinitial public offering.[8]

History

[edit]
See also:History of the Opera web browser,Otello Corporation § Acquisitions,Opera Mobile § History,Opera Mini § History,Nintendo DS Browser § Launch,andInternet Channel § History

Early development

[edit]

Opera Software was founded as an independent company inNorwayin 1995 by the IcelandicJon Stephenson von TetzchnerandGeir Ivarsøy.[9]They had initially begun development of the Opera web browser while both working at Norwegian telecommunications companyTelenor.[10]

Opera Software's first product, the Opera web browser version 2.10 forWindows,was publicly released in 1996. Opera began development of its first browser for mobile device platforms in 1998.[9]Opera 4.0, released in 2000,[11]included a new cross-platform core that facilitated creation of editions of Opera for multipleoperating systemsandplatforms.[12]

Up to this point, the Opera browser wastrialwareand had to be purchased after the trial period ended, however, this ended with version 5.0, released in 2000. Instead, Opera becamead-sponsored,displaying advertisements to users without a license,[13]which was commonly criticized as a barrier to gaining market share. In newer versions, the user was allowed a choice of generic graphicalbannersor text-based targeted advertisements provided by Google based upon the page being viewed.

First IPO and public company

[edit]

In February 2004, Opera Software announced it was preparing for an initial public offering on theOslo Stock Exchangein March.[14]On 11 March, Opera's IPO opened, trading under the symbol OPERA.[15]

In 2004, Opera Software settled a lawsuit with an "international corporation" payingUS$12.75 millionto Opera. It was speculated that the "international corporation" named in the statement announcing the settlement wasMicrosoft,which had previouslyblocked Opera usersfrom correctly viewingMSN.[16][17]

On 12 January 2005, Opera Software announced that it would offer free licenses to higher education institutions[18]— a change from the previous cost of US$1,000 for unlimited licenses. Schools that opted for the free license includedMassachusetts Institute of Technology(MIT),Harvard University,University of Oxford,Georgia Institute of Technology,andDuke University.

With version 8.5 (released in 2005) the advertisements were removed entirely and primary financial support came through revenue from Google (Opera's default search engine).[19]In August 2005, the company introducedOpera Mini,a newJava MEbased web browser for mobile phones originally marketed not to end users but tomobile network operatorsto pre-load on phones or offer for their subscribers.[20]In 2007, Opera filed a complaint againstMicrosoftin theEuropean Commission,alleging that bundlingInternet ExplorerwithMicrosoft Windowsis harmful to both the consumer and to other web browser companies.[21]The complaint resulted in the creation ofBrowserChoice.eu.[22]

In 2011, development directors Rolf Assev and Christen Krogh, decided to quit Opera to try something new.[23]

In 2012, Opera Software and Bharti Airtel signed an agreement to provide Opera Mini browsers to Airtel mobile customers.[24]In 2013 Opera Software decided to not use their in-house rendering engine for the Desktop Browser anymore. From Version 15, the Opera browser for computers would be using theBlinkrendering engine, a fork of Webkit developed together with Google.

Håkon Wium Lie,formerchief technical officer

In March 2015,Mobile World Congressin Barcelona, Opera won Global Mobile Award of Best Mobile Product, Initiative or Service in Emerging Markets for Opera Web Pass and Sponsored Web Pass.[25]In April Opera Software decided to centre development of the Opera Desktop browser in Poland.[26]On 12 April,[27]Opera TV AS(now Vewd Software AS[28][29]) was established to separate TV-related business from all other assets, which became part of Opera Software AS; both companies became wholly owned subsidiaries ofOpera Software ASA(now Otello).[30]In September, the company announced a rebrand with a new three-dimensional "O" logo and brand identity. In the process, the company logotype changed from "Opera Software" to "Opera".[31]

Acquisition and second IPO

[edit]

In 2016, the company changed ownership when a group of Chinese investors purchased the web browser, consumer business, and brand of Opera Software ASA. The remaining assets were renamed as theOtello Corporation.[32]The ownership change was initiated in February 2016 when a group of Chinese investors offered US$1.2 billion ($8.31 per share) to buyOpera Software ASA,[note 1][33]though the deal reportedly did not meet regulatory approval.[34]On 18 July 2016, Opera Software ASA announced it had sold its browser, privacy and performance apps, and the Opera brand to Golden Brick Capital Private Equity Fund I Limited Partnership[35][36][37](a consortium of Chinese investors led byBeijing Kunlun Tech CoandQihoo 360) for an amount of US$600 million.[34]The transaction for sale of Opera's consumer business was approved on 31 October 2016 by theCommittee on Foreign Investment in the United States.[38]An earlier deal was not approved by Norwegian regulators.[37]On 4 November 2016, Golden Brick Capital Private Equity Fund I L.P. completed the acquisition.[39]After divesting itself of the Opera browser and brand, Opera Software ASA[note 1]changed its name toOtello Corporation ASA.[40]

In January 2017, the company introducedOpera Neon,a new concept browser that is intended as an exploration of browser design alternatives. The browser is built on top of the Blink engine similar to the original Opera browser, and it is available for Windows and macOS. In January 2018, Opera launchedOpera News,an AI-driven news app dedicated to African users. It reached more than a million downloads in less than a month.[41]In April, the company released a new mobile browser calledOpera Touch.It includes an innovative user interface focused on ease of use and one-handed browsing.[42]In July 2018, Opera filed for an IPO. The company went public on theNASDAQon 27 July and raised over $115 million.[8]Opera is a subsidiary of Kunlun Tech Co., Ltd., and controlled byZhou Yahui.[43]

Acquisitions

[edit]

In November 2019, Opera launched a new project calledOpera News Hub.The platform helps bloggers create and share content.[44]In January 2020, Opera acquired PocoSys, an Estonian startup that developed banking-as-a-service software. The deal also included an agreement to take over Pocopay, PocoSys's sister company.[45]In June 2020, Opera partnered with APO Group to provide accurate information aboutCOVID-19 in Africa.News articles from different health authorities are collected by APO and made available to Opera users through the Opera Mini browser and Opera News app.[46]

Opera acquiredYoYo GamesfromPlaytechin January 2021, forUS$10 million,from which the company also announced the launch of its Opera Gaming division to promote game development within the Opera GX browser with YoYo Games and itsGameMakergame development software.

In February 2021, Opera launched the fintech Dify, an in-browser payment app that includes cashback service and a digital wallet.[47]Customers who use Dify get reimbursed when purchasing items from partner websites likeNike,Asos,andeDreams.[48][49]The fintech was first offered in beta in Spain.[48][47]

Products

[edit]
See also:Otello Corporation § Divestitures

Active products

[edit]
  • Opera desktop browser(Windows, macOS, Linux)
  • Opera Mobile browser (Android, iOS)
  • Opera GX:Opera's gaming browser, released in June 2019. The browser allows users to customize how much RAM, CPU, and network bandwidth it uses,[50]and reached 20 million monthly active users.
  • Opera Mini:originally released in 2005, version 50 of the browser was released in May 2020.[51]The redesign included a new UI, an improved data-saving mode, and a built-in file sharing service.[51]
  • Opera News: released in 2018, a news app with an AI-engine[52]In 2020, Opera announced that its Opera News service had more than 200 million monthly active users.[53]
  • OPay: a fintech startup incubated by Opera,[54]it is a mobile-based money platform in Nigeria released in 2018.[55]
  • Opera Ads: advertising platform which integrates into all of Opera's products released in May 2019.[56][57]
  • Okash, Opesa and Credit Hela: Payday loan apps operating in Kenya.[58][59][60][61]

Discontinued products

[edit]

In February 2018, after previously announcing that the service and app would be shut down, the Opera Max app, a VPN based mobile data compression service, was sold to Samsung. It was rebranded as Samsung Max, but will only be compatible with eligibleSamsung Galaxysmartphones going forward.[62]

Since then, Opera has developed its ownVPNavailable within its desktop and Android browser.[63]

On 22 March 2021, in celebration of the three-year-anniversary of Opera Touch, it was announced that the iOS version of Opera Touch was rebranded to simplyOpera,[64]and it was also given a new, and refurbished UI.

In August 2017, Opera Coast was discontinued and removed from the Apple App Store. The reason is unknown, but some believed that the company is focusing on some products.

Controversies

[edit]

Opera was involved in a years-long feud withMicrosoftdating back to 2001.[65]On at least three occasions, Opera accused Microsoft of deliberately breaking interoperability of itsMSNservices and the Opera browser or other non-Internet Explorerbrowsers.[65][66]Microsoft denied that it was intentionally shutting out Opera users.[65][66]In response, Opera released the "Bork Edition" of its web browser, causing MSN to display only the phrase, "Bork, bork, bork!" which was popularized byThe Muppet Showcharacter, Swedish Chef.[67][68][69][70]In 2004, Opera received a confidential $12.75 million payment from an "international corporation" reported to be Microsoft.[66]

In 2013, Opera switched from its rendering engine,Presto,toChromium'sWebKit(nowBlink), a decision described as a "sad day for the web."[71][72]

From 2018[73]to 2020, Opera was involved in the incubation of Kenyan loan companies OKash and Opesa. In January 2020, the then Opera-owned businesses were accused of offering predatory terms with interest rates of up to 876 percent per annum[58]and employing unethical debt recovery practices such as debt shaming[73]and abusing customer privacy.[74][75][76]In August 2020, Opera announced its divestment from majority ownership of its microlending holdings,[77][78][79]and in March 2022, Opera sold its stake outright.[80]

Notes

[edit]
  1. ^abOpera SoftwareASA(nowOtello Corporation ASA) and Opera SoftwareASare different companies.

References

[edit]
  1. ^"OPRA Company Profile & Executives – Opera Ltd. ADR".The Wall Street Journal.Retrieved9 December2021.
  2. ^"Frode Jacobsen".Bloomberg.
  3. ^abcde"2023 Annual Report (Form 20-F)".US Securities and Exchange Commission.24 April 2024.
  4. ^"Côn Luân vạn duy tham cổ công ty Opera Limited nghĩ phó đẹp hơn thị".Reuters(in Chinese (China)). 2 July 2018. Archived fromthe originalon 3 May 2019.Retrieved2 July2018.
  5. ^SEC (28 June 2022)."Opera Ltd 2021 Annual/Transition Report 20-F/A".SEC.report.Archived from the original on 31 October 2022.Retrieved31 October2022.Kunlun, our parent company, and Mr. Yahui Zhou, our chairman of the board and chief executive officer, have control over our company and their interests may not be aligned with the interests of our other shareholders. As of the date of this annual report, Kunlun, a Chinese public company traded on the Shenzhen stock exchange, indirectly owns 55.60% of our issued and outstanding ordinary shares. As such, we are a consolidated subsidiary of Kunlun.{{cite web}}:CS1 maint: bot: original URL status unknown (link)
  6. ^"OPRA - Opera Ltd Shareholders - CNNMoney".money.cnn.Retrieved26 January2024.
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  9. ^ab"About Opera – Opera".Opera.Archived fromthe originalon 11 October 2008.Retrieved30 January2018.
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[edit]

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