Stay on Top of Enterprise Technology Trends
Get updates impacting your industry from our GigaOm Research Community
So it has finally happened…TechTarget, the tech trade online media firm which did the M&A round last year before deciding to take the company public, has filed for a smallish $75 million IPO. Morgan Stanley and Lehman Brothers are leading the deal’s underwriting. The Needham, Mass.-based company will list on Nasdaq under “TTGT”. Release.
The full S-1 filed with SEC is here.
Some financial numbers from the S-1:
— We generated revenues of $67 million in 2005, up from $47 million in 2004. Over the same period, we grew our adjusted EBITDA from $5 million to $13 million.
— Revenues from online for nine months of 2006 were $35.75 million…2005 full year revenues were $43.66 million.
— Profits for nine months of 2006 were $4.4 million…2005 full year revenues were $8.86 million.
— Our ad revenues accounted for approximately 98% of our total revenues for the nine months ended September 30, 2006.
— Acquisitions it made: 2020software.com for $15.0 million in cash (May 2006); Bitpipe for $40.5 million in cash (Dec 2004); and The Middleware Company for $1.1 million in cash (Nov 2004)
— Raised $32.3 million in first round.
— Raised an additional $69.9 million in second round in 2004. In June 2004, in connection with the series B preferred stock offering, we paid $43.7 million to repurchase a portion of the series A preferred stock, common stock, and certain outstanding employee options. We recorded a $6.0 million stock-based compensation charge associated with the repurchase of the employee options.
— Raised an additional $15.0 million in third round in Decembe 2004.
— Venture investors: Technology Crossover Ventures (owns 32.34 percent), Polaris Venture Partners (owns 28.41 percent)
— TechTarget Gearing For IPO; Scouting Bankers
— TechTarget Acquires 2020software.com; IPO In a Year
— TechTarget’s 2005 Revenues: $70 Million
— TechTarget IPO Possibility: Some More Details
— TechTarget Hires Investment Bank For IPO; Reorganizes