ExactTarget (ET) IPO Opens Higher
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The IPO for ExactTarget (NYSE: ET) is open for trading. Shares are trading at $23.50 after pricing 8,500,000 shares at $19, above the expected $15-$17 range.
J.P. Morgan, Deutsche Bank Securities and Stifel Nicolaus Weisel are acting as joint book-runners for the offering, with RBC Capital Markets, Pacific Crest Securities, Canaccord Genuity and Raymond James acting as co-managers.
ExactTarget is a leading global provider of cross-channel, interactive marketing software-as-a-service (SaaS) solutions that empower organizations of all sizes to communicate with their customers through the interactive channels they use most - email, mobile, social media and websites. The company\'s solutions provide marketers with a broad and powerful suite of integrated applications to plan, automate, deliver and optimize data-driven interactive marketing campaigns and real-time communications to drive customer engagement, increase sales and improve their return on marketing investment.
For the years ended December 31, 2009, 2010 and 2011, revenue was $95.4 million, $134.3 million and $207.5 million, representing period-over-period growth of 32%, 41% and 55%, respectively. For the years ended December 31, 2009, 2010 and 2011, the company posted a net loss of $61.1 million, $12.1 million and $35.4 million, respectively.
Keep up to date on the ExactTarget IPO at StreetInsider.com's IPO Insider.
J.P. Morgan, Deutsche Bank Securities and Stifel Nicolaus Weisel are acting as joint book-runners for the offering, with RBC Capital Markets, Pacific Crest Securities, Canaccord Genuity and Raymond James acting as co-managers.
ExactTarget is a leading global provider of cross-channel, interactive marketing software-as-a-service (SaaS) solutions that empower organizations of all sizes to communicate with their customers through the interactive channels they use most - email, mobile, social media and websites. The company\'s solutions provide marketers with a broad and powerful suite of integrated applications to plan, automate, deliver and optimize data-driven interactive marketing campaigns and real-time communications to drive customer engagement, increase sales and improve their return on marketing investment.
For the years ended December 31, 2009, 2010 and 2011, revenue was $95.4 million, $134.3 million and $207.5 million, representing period-over-period growth of 32%, 41% and 55%, respectively. For the years ended December 31, 2009, 2010 and 2011, the company posted a net loss of $61.1 million, $12.1 million and $35.4 million, respectively.
Keep up to date on the ExactTarget IPO at StreetInsider.com's IPO Insider.
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