{"id":567142,"date":"2010-05-17T17:33:57","date_gmt":"2010-05-17T21:33:57","guid":{"rendered":"tag:contentnext.com,2010-05-17:article\/419-mobile-marketer-velti-files-to-raise-up-to-200-million-in-u.s.-ipo"},"modified":"2010-05-17T17:33:57","modified_gmt":"2010-05-17T21:33:57","slug":"mobile-marketer-velti-files-to-raise-up-to-200-million-in-u-s-ipo","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/567142","title":{"rendered":"Mobile Marketer Velti Files To Raise Up To $200 Million In U.S. IPO"},"content":{"rendered":"

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Mobile marketing firm Velti <\/a>has filed to raise up to $200 million in a U.S. IPO. The company, which provides a platform advertisers use to manage their mobile ad camapaigns, says it will use the proceeds to pay back all of its $39 million in debt, as well as for “general corporate purposes.” <\/p>\n

Velti has been trading on the AIM stock exchange in London for four years, so its financial status was already known<\/a>. (It raised $17 million in its IPO there<\/a> in 2006). The company’s F-1 filing<\/a> does however provide some updates: Its revenue was $90 million last year, up from $62 million in 2008. Net income was $6.2 million, compared to a $6.2 million loss in 2008. And Velti paid $3.6 million for Ad Infuse, the U.S.-based mobile ad startup it purchased<\/a> a year ago.<\/p>\n

Velti expects to trade under the symbol VELT on the Nasdaq stock market. The offering is being underwritten by Needham & Co., RBC Capital Markets, Canaccord Genuity, and ThinkEquity.\n<\/p>\n

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