YuMe targets raising up to $80.5 million in IPO
- Cromwell Schubarth
- Senior Technology Reporter- Silicon Valley Business Journal
- Email | Twitter | Google+
The Redwood City company led by CEO Jayant Kadambi boosted the maximum IPO from the $65 million it disclosed several weeks ago in a Securities and Exchange Commission filing.
It now plans to sell 5 million shares at between $12 and $14 a share. There is another 750,000 in shares that could be sold in the offering by selling shareholders.
YuMe plans to trade on the New York Stock Exchange with the symbol of YUME.
YuMe's revenue hit $26.6 million in the first quarter of this year, up nearly 33 percent from the previous year. It lost about $3.3 million in the quarter, compared to a $1.5 million loss the year before.
The company posted a profit of $6.3 million in 2012, compared with a loss of $11.1 million in 2011. Revenue rose 70 percent in that time to $116.7 million.
It has raised nearly $73 million from from investors who include Accel Partners,BV Capital, DAG Ventures, Intel Capital,Khosla Ventures, Menlo Ventures, Samsung Venture Investment and Translink Capital.
YuMe was founded in 2004, providing software that helps advertisers get their marketing into new places on the Web.
Click here to read YuMe's latest IPO filing.
Click here to subscribe to TechFlash Silicon Valley, the free daily email newsletter about the region's founders and funders.
Cromwell Schubarth is the Senior Technology Reporter at the Business Journal. His phone number is 408.299.1823.
No comments:
Post a Comment