E-mail Newsletter Service ConstantContact Files For $86 Million IPO
By Rafat Ali - Fri 06 Jul 2007 09:27 PM PST
Constant Contact, the e-mail newsletter management and delivery firm (we use the company’s services for our sister site MocoNews.net and ContentSutra’s newsletters, and soon moving this site’s newsletter as well), has filed for an IPO on Nasdaq (symbol CTCT), and hopes to raise up to $86.25 million. The Waltham, MA-based company didn’t disclose how many shares will be offered, nor did it estimate a price range yet.
The company intends to use the money raised for general corporate purposes, including development of new products, acquisition of new customers and capital expenditures. A year ago the company raised a $15 million round from Greylock Partners, Commonwealth Capital Ventures, Hudson Ventures, Longworth Venture Partners, and Morgan Stanley Venture Partners.
From the S-1: For Q107, CC had a net loss of $2.68 million, widening from $957K in the year-ago quarter. Its revenues grew nearly 80 percent to $9.7 million from $5.4 million.
Posted in: Technologies/Formats, E-mail, VC+M&A
