Marin Software (MRIN) Files $75M IPO

February 13, 2013 5:52 PM EST
Marin Software, Inc. (NYSE: MRIN) filed a registration with the U.S. Securities and Exchange Commision for an Initial Public Offering of its Common Stock. The proposed maximum offering price is $75 million. Marin Software plans to list on the New York Stock Exchange under the ticker "MRIN."

The offering is being made through Goldman, Sachs & Co., Deutsche Bank Securities, UBS Investment Bank, Stifel, and Wells Fargo Securities.

The company issued the following financial summary: We generate revenues from subscription contracts under which we charge fees generally based upon the amount of advertising spend that our customers manage through our platform. We have achieved 14 consecutive quarters of revenue growth. For 2009, 2010 and 2011, and for the nine months ended September 30, 2012, our revenues were $7.5 million, $19.0 million, $36.1 million and $42.5 million, representing period-over-period growth of 186%, 152%, 90% and 72%, respectively. We had net losses of $9.7 million in 2009, $10.9 million in 2010, $17.4 million in 2011 and $19.2 million for the nine months ended September 30, 2012.

Marin Software provides a cloud-based digital advertising management platform that enables advertisers and agencies to improve financial performance, realize efficiencies and time savings, and make better business decisions.

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