ExactTarget Seeks to Raise $100 Million in Initial Public Offer
The company aims to raise $100 million in an IPO, according to a filing with the U.S. Securities and Exchange Commission today. The amount is a placeholder used to calculate registration fees and may change.
ExactTarget announced its plans for the offering after 16 companies including Angie’s List Inc. and Groupon Inc. completed U.S. IPOs this month, the most since the same number was completed in all of July, according to data compiled by Bloomberg.
ExactTarget offers so-called software-as-a-service tools that businesses can use for marketing via e-mail, websites and social media, according to the filing. Revenue increased 55 percent to about $148 million in the nine months through September from a year earlier, while the net loss available to common stockholders widened to $29.3 million from $6 million, the filing showed.
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