Accounting software maker BlackLine files for IPO

September 30, 2016 6:39 PM EDT

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(Reuters) - Accounting software maker BlackLine Inc filed for an initial public offering with U.S. securities regulators on Friday, looking to ride on the recent success of technology offerings in a relatively quiet year for IPOs.

Los Angeles-based BlackLine, founded in 2001 by Chief Executive Therese Tucker, counts Coca-Cola Co (NYSE: KO), Under Armour (NYSE: UA) and Dow Chemical Co (NYSE: DOW) among its 1,500 customers.

Reuters reported last week that the company was preparing for an IPO that could value it at more than $1 billion.

Goldman Sachs, J.P. Morgan, Raymond James, William Blair and Baird are among the underwriters for the IPO, the company said in a filing with the Securities and Exchange Commission.

Demand for tech offerings has been robust, and on Friday shares of Nutanix Inc (NASDAQ: NTNX), an enterprise data storage provider, more than doubled in their market debut.

Nutanix sold 14.87 million shares, more than the expected 14 million, and priced them above the anticipated range of $13 and $15.

BlackLine said it plans to list its shares on the Nasdaq under the symbol "BL".

The IPO would raise up to $100 million, according to the filing. (

The amount of money a company says it plans to raise in its first IPO filing is usually a placeholder.

(Reporting by Narottam Medhora in Bengaluru; Editing by Sriraj Kalluvila)

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