ATLANTA, May 9, 2010 — Internap Network Services Corp., the Atlanta-based Internet hosting and data services company, has posted losses for years. The publicly traded company reported a loss of $105 million in 2008, following by another loss of $70 million last year.
And yet the company is steaming ahead with expansion plans – not only domestically but also overseas.
“Internap has been in need of a turnaround and a restructuring and a revisiting of our strategic direction,” said Eric Cooney, Internap’s president and chief executive officer.
“We are making significant capital investment decisions with what we believe is a clear and compelling strategic direction in mind,” he said.
Not only is the company forking out $50 million in capital investments, but Cooney also said Internap scored a major win in late April when it launched its Accelerated IP “XIP” – a new service-based Internet traffic accelerator – at Interop in Las Vegas.