April 7, 2014 / 7:10 PM / 4 years ago

UPDATE 1-Yodle selects Credit Suisse, Deutsche Bank for IPO: sources

(Adds comment from Yodle, banks, company background)

By Olivia Oran

NEW YORK, April 7 (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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