May 16 Enterprise software company Marketo Inc
priced its initial public offering of common stock at $13, the
higher end of its expected price range, to raise $79.3 million,
according to a person familiar with the matter.
The company is selling 5.75 million shares in the offering,
while selling stock holders are selling about 300,000 shares.
Marketo investors include Institutional Venture Partners,
InterWest Partners, Mayfield Fund, Storm Ventures and Battery
The company, whose customers include General Electric Co
, CenturyLink Inc and Panasonic, reported revenue
of $19.7 million for the three months ended March 31.
Shares of business software companies like WorkDay Inc
, Guidewire Software Inc and Service Now Inc
are trading at a heavy premium to their IPO price,
since their debuts in 2012.
San Mateo, California-based Marketo is expected to begin
trading on the Nasdaq on Friday under the symbol "MKTO".
Goldman Sachs and Credit Suisse are listed as lead
underwriters to the offering.