*By Bridgette Webb*
Shares of the smart security camera maker Arlo soared Friday in their public debut on the New York Stock Exchange, with the stock rising as much as 40 percent from its IPO price.
Though the company sold shares at a lower price than expected, CEO Matthew McRae told Cheddar he doesn't worry he left any money on the table.
"We wanted to make sure it traded healthy," McRae said. "We want to make sure that everyone had success today ー we are looking at the long term."
Arlo, which was spun out of networking hardware company Netgear, sold 10.2 million shares at $16 in its offering ー below the initial target range of $18 to $20. That raised just $163 million for the company, short of the more than $200 million it could have brought in.
Still, the stock opened at $18.50 and rose even higher during the day. That's similar to the trajectory of the speaker company [Sonos](https://cheddar.com/videos/sonos-jumps-in-market-debut), which rose 40 percent in its first two days on the market.
Like Sonos, Arlo competes in a crowded market. Amazon has its Cloud Cam and Ring smart lock, and Google has Nest. But McRae classified his company's relationship with these rivals as "coope-tition."
"We are more friends than enemies," he said. "If we look at Amazon, we compete with its Ring, but they're a great channel partner of ours and helps to sell our product."
Amazon has removed competitors' products from its site in the past ー the e-commerce giant announced in [2015](https://www.recode.net/2015/10/1/11619122/amazon-raises-a-walled-garden-by-booting-apple-tv-google-chromecast) it would stop selling Apple TVs and Google Chromecast sticks.
But McRae said that's a risk Arlo is willing to take ー albeit with caution.
"As long as we are both growing, we have a strategic partnership."
Arlo trades on the NYSE under the ticker "ARLO."
The Rev. Al Sharpton is set to lead a protest march on Wall Street to urge corporate America to resist the Trump administration’s campaign to roll back diversity, equity and inclusion initiatives. The New York civil rights leader will join clergy, labor and community leaders Thursday in a demonstration through Manhattan’s Financial District that’s timed with the anniversary of the Civil Rights-era March on Washington in 1963. Sharpton called DEI the “civil rights fight of our generation." He and other Black leaders have called for boycotting American retailers that scaled backed policies and programs aimed at bolstering diversity and reducing discrimination in their ranks.
President Donald Trump's administration last month awarded a $1.2 billion contract to build and operate what's expected to become the nation’s largest immigration detention complex to a tiny Virginia firm with no experience running correction facilities.
Chipmaker Nvidia is poised to release a quarterly report that could provide a better sense of whether the stock market has been riding an overhyped artificial intelligence bubble or is being propelled by a technological boom that’s still gathering momentum.
Cracker Barrel said late Tuesday it’s returning to its old logo after critics — including President Donald Trump — protested the company’s plan to modernize.
Low-value imports are losing their duty-free status in the U.S. this week as part of President Donald Trump's agenda for making the nation less dependent on foreign goods. A widely used customs exemption for international shipments worth $800 or less is set to end starting on Friday. Trump already ended the “de minimis” rule for inexpensive items sent from China and Hong Kong, but having to pay import taxes on small parcels from everywhere else likely will be a big change for some small businesses and online shoppers. Purchases that previously entered the U.S. without needing to clear customs will be subject to the origin country’s tariff rate, which can range from 10% to 50%.
Southwest Airlines will soon require plus-size travelers to pay for an extra seat in advance if they can't fit within the armrests of one seat. This change is part of several updates the airline is making. The new rule starts on Jan. 27, the same day Southwest begins assigning seats. Currently, plus-size passengers can pay for an extra seat in advance and later get a refund, or request a free extra seat at the airport. Under the new policy, refunds are still possible but not guaranteed. Southwest said in a statement it is updating policies to prepare for assigned seating next year.
Cracker Barrel is sticking with its new logo. For now. But the chain is also apologizing to fans who were angered when the change was announced last week.
Elon Musk on Monday targeted Apple and OpenAI in an antitrust lawsuit alleging that the iPhone maker and the ChatGPT maker are teaming up to thwart competition in artificial intelligence.
