May 2 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