*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."
AI is reshaping investigations. Longeye CEO Guillaume Delepine shares how their AI workspace empowers law enforcement to uncover insights faster and smarter.
Stephen Kates, Financial Analyst at Bankrate, joins to discuss the Fed’s 25-basis-point rate cut, inflation risks, and what it all means for consumers and marke
Big tech earnings take center stage as investors digest results from Alphabet, Meta, Microsoft, Amazon, and Apple, with insights from Gil Luria of D.A. Davidson
Disney content has gone dark on YouTube TV, leaving subscribers of the Google-owned live streaming platform without access to major networks like ESPN and ABC. That’s because the companies have failed to reach a new licensing deal to keep Disney channels on YouTube TV. Depending on how long it lasts, the dispute could particularly impact coverage of U.S. college football matchups over the weekend — on top of other news and entertainment disruptions that have already arrived. In the meantime, YouTube TV subscribers who want to watch Disney channels could have little choice other than turning to the company’s own platforms, which come with their own price tags.
President Donald Trump said he has decided to lower his combined tariff rates on imports of Chinese goods to 47% after talks with Chinese leader Xi Jinping on curbing fentanyl trafficking.
Universal Music Group and AI platform Udio have settled a copyright lawsuit and will collaborate on a new music creation and streaming platform. The companies announced on Wednesday that they reached a compensatory legal settlement and new licensing agreements. These agreements aim to provide more revenue opportunities for Universal's artists and songwriters. The rise of AI song generation tools like Udio has disrupted the music streaming industry, leading to accusations from record labels. This deal marks the first since Universal and others sued Udio and Suno last year. Financial terms of the settlement weren't disclosed.
