Another e-mail delivery software company files for an IPO: first was ConstantContact, earlier this year, and now Indianapolis-based ExactTarget, a provider of on-demand e-mail marketing software. It filed its S-1 with SEC earlier today, and plans to list on Nasdaq under the symbol “EXTG.” The company did not disclose the expected number or price range, but could total up to $86.3 million, though that may change, reports AP.
Its software enables its clients to easily create, target, deliver, track and manage marketing e-mail. Clients include Careerbuilder.com, Expedia.com, Gannett (NYSE: GCI) and others. The company raised a $10.5 million round in 2004 from Insight Venture Partners, and a $7 million funding from Montagu Newhall Global Partners early this year.
For the nine months ended Sept. 30, ExactTarget’s earnings rose to $2.1 million from $1.8 million in the year-ago period. The company’s revenues also rose to $34.2 million, from $22 million. More in release