April 7, 2014 / 5:55 PM / 5 years ago

Yodle selects Credit Suisse, Deutsche Bank for IPO: sources

NEW YORK (Reuters) - Marketing software company Yodle has selected banks for an initial public offering that is expected to come later this year and could raise $100 million, according to people familiar with the matter.

The New York-based company, backed by investors including Draper Fisher Jurvetson, has chosen Credit Suisse AG and Deutsche Bank to lead the process, the people said on Monday.

A Yodle spokesperson and the banks declined to comment.

Yodle, which runs software that helps local businesses with online advertising and marketing, generates over $160 million in annual revenue, according to the company’s website. Founded in 2005, Yodle has over 1,100 employees and 40,000 local business customers.

It has raised around $40 million in venture capital funding.

If Yodle goes public, it would be the latest in a string of IPOs from online advertising companies. Recent public offerings in the sector have included Tremor Video Inc, YuMe Inc, Rocket Fule Inc and Criteo SA, while the Rubicon Project has filed for an IPO.

Reporting by Olivia Oran in New York; Editing by Jonathan Oatis and Alden Bentley

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