Opera, an underdog in a browser market dominated by Google's Chrome, raised $115 million in an initial public offering Friday. In the first three months of 2018, Opera reported net income of $6.6 million on revenue of $39.4 million. Opera has 264 million monthly active users on smartphones and 57 million on personal computers, Opera said in regulatory filings. Starting in 2017, it built an AI-powered news service into its browser and now offers it as a standalone app called Opera News. In the overall browser market, Opera accounts for 3.5 percent of website usage, according to analytics firm StatCounter. After its acquisition in 2016, Opera pared back some projects, including the Opera Max data-saving app and Coast mobile browser, Jacobsen said. The browser market has abundant competition, but Opera is focusing on more advanced users who'll appreciate having a browser already set up how they want it to work, said Krystian Kolondra, Opera's executive vice president of browsers. Read more