LogMeIn Files for $86M IPO; Gets Money from Intel

Remote computer access service provider LogMeIn has filed to raise up to $86.3 million through an initial public offering, according to a filing late last week with the SEC. The Woburn, Mass.-based company reported a loss of $6.5 million on sales of a mere $18.1 million for the nine months ending Sept. 2007, but its growth is strong, with sales increasing 151 percent in the same time period.
As it uses a peer-to-peer data transfer model after it makes the connection between the home computer and the remote user, LogMeIn faces less of an infrastructure burden as it grows. It has filed to trade on the Nasdaq under the symbol LOGM. Read More about LogMeIn Files for $86M IPO; Gets Money from Intel