July 8 Marketing software company Yodle Inc
filed with U.S. regulators on Tuesday to raise about $75 million
in an initial public offering of common stock.
New York-based Yodle, which runs software that helps local
businesses with online advertising and marketing, is backed by
investors including Draper Fisher Jurvetson, Bessemer Venture
Partners and Jafco Technology Partners.
Yodle, which had more than 44,000 customers as of March 31,
listed consumer review websites such as Yelp Inc and
Angie's List Inc and web hosting companies like
GoDaddy, Main Street Hu and Wix among its competitors.
Spending on local digital advertising is expected to almost
double to $53 billion in 2018, according to research firm
Yodle reported a 30 percent jump in revenue to $45.7 million
for the three months ended March 31. The company swung to a loss
of $5.9 million, after earning $2.2 million a year earlier.
The company listed Credit Suisse, Deutsche Bank, Jefferies
and Piper Jaffray among the underwriters to its IPO. (bit.ly/1qese5B)
Reuters reported in April Yodle has selected banks for an
initial public offering.
Tuesday's filing did not reveal how many shares the company
planned to sell or their expected price. The exchange it plans
to list its stock was also not named.
Yodle, which plans to use the proceeds for debt repayment
and general corporate purposes, intends to list its common stock
under the symbol "YO".
Recent public offerings in the sector have included Tremor
Video Inc, YuMe Inc, Rocket Fuel Inc
and Criteo SA, while the Rubicon Project has filed for
The amount of money a company says it plans to raise in its
first IPO filings is used to calculate registration fees. The
final size of the IPO could be different.
(Reporting By Neha Dimri in Bangalore; Editing by Don