Schools that opted for the free license included Massachusetts Institute of Technology (MIT), Harvard University, University of Oxford, Georgia Institute of Technology, and Duke University.

On 12 January 2005, Opera Software announced that it would offer free licenses to higher education institutions - a change from the previous cost of US$1,000 for unlimited licenses. It was speculated that the 'international corporation' named in the statement announcing the settlement was Microsoft, which had previously blocked Opera users from correctly viewing MSN.com.

In 2004, Opera Software settled a lawsuit with an 'international corporation' paying US$12.75 million to Opera.

On March 11, Opera’s IPO opened, trading under the symbol OPERA. In February 2004, Opera Software announced it was preparing for an initial public offering on the Oslo Stock Exchange in March. In newer versions, the user was allowed a choice of generic graphical banners or text-based targeted advertisements provided by Google based upon the page being viewed. Instead, Opera became ad-sponsored, displaying advertisements to users without a license, which was commonly criticized as a barrier to gaining market share. Up to this point, the Opera browser was trialware and had to be purchased after the trial period ended, however, this ended with version 5.0, released in 2000. Opera 4.0, released in 2000, included a new cross-platform core that facilitated creation of editions of Opera for multiple operating systems and platforms. Opera began development of its first browser for mobile device platforms in 1998. Opera Software's first product, the Opera web browser version 2.10 for Windows, was publicly released in 1996. They had initially begun development of the Opera web browser while both working at Norwegian telecommunications company Telenor. Opera Software was founded as an independent company in Norway in 1995 by Jon Stephenson von Tetzchner and Geir Ivarsøy. See also: History of the Opera web browser, Otello Corporation § Acquisitions, Opera Mobile § History, Opera Mini § History, Nintendo DS Browser § Launch, and Internet Channel § History Early development

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