US-based Mojo Networks eyes IPO in two years

Wi-Fi equipment maker Mojo Networks is eyeing a stock market listing in about two years and expects annual sales to hit $100 million by then, the company's co-founder Pravin Bhagwat said. Mojo, which provides cloud-powered Wi-Fi services, counts fast-food chain KFC, handbag maker Kate Spade & Co and India's newest telecom provider Reliance Jio Infocomm as some of its top customers.
"We are at the stage where we are trying to cross the $100 million sales mark and once we get there, we will very seriously look into (an IPO)," Bhagwat said. "I think probably in two years time we have a very good shot at getting there." Mountain View, California-based Mojo will look to list on the Nasdaq, Bhagwat said.