Glam Media selects Goldman, BoA to lead IPO

Wed May 2, 2012 4:51pm EDT

May 2 (Reuters) - Digital media company Glam Media has selected Goldman Sachs and Bank of America Corp to lead its initial public offering, two sources familiar with the situation said on Wednesday.

Glam Media, which has been valued at close to $1 billion, is expected to launch its public offering toward the latter half of this year, joining other newly public Internet companies like Zynga Inc, Groupon Inc and LinkedIn Corp .

Glam, Bank of America and Goldman Sachs all declined comment. The source declined to be identified because the information is private.

Glam, which was launched in 2005, reaches more than 220 million monthly unique visitors globally through its websites, which are focused on women's lifestyle.

Glam, based in Brisbane, California, generated more than $150 million last year in revenue, according to one of the sources. The company has raised roughly $130 million from venture investors including Information Capital, Accel Partners, Draper Fisher Jurvetson, Walden Ventures, Hubert Burda Media, GLG Partners and Aeris Capital.

In September 2011, Glam purchased social networking company Ning for $150 million.

Business Insider earlier reported on the selection of lead underwriters.