Mobile Marketer Velti Files To Raise Up To $200 Million In U.S. IPO
Mobile marketing firm Velti has filed to raise up to $200 million in a U.S. IPO. The company, which provides a platform advertisers use to manage their mobile ad camapaigns, says it will use the proceeds to pay back all of its $39 million in debt, as well as for “general corporate purposes.”
SEE ALSO: Velti To Raise $17 Million in IPO on AIM
Velti has been trading on the AIM stock exchange in London for four years, so its financial status was already known. (It raised $17 million in its IPO there in 2006). The company’s F-1 filing does however provide some updates: Its revenue was $90 million last year, up from $62 million in 2008. Net income was $6.2 million, compared to a $6.2 million loss in 2008. And Velti paid $3.6 million for Ad Infuse, the U.S.-based mobile ad startup it purchased a year ago.
Velti expects to trade under the symbol VELT on the Nasdaq stock market. The offering is being underwritten by Needham & Co., RBC Capital Markets, Canaccord Genuity, and ThinkEquity.
Posted In: Advertising, Mobile, Money, IPO, velti

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