Snapchat has reportedly filed for an initial public offering (IPO), bringing the social messaging app closer to a $20 billion to $25 billion U.S. stock market debut. Reuters, quoting sources familiar with the situation, said the company could go public as soon as March 2017.
Marketing automation vendor Eloqua is coming off a busy few months. In August, the company issued its IPO; the stock, which went public at $11.50 a share, currently trades around $19. Last week, Eloqua followed up with its biggest user conference to date, including more than 1,500 customers and partners.
Demand Gen Report sat down with Eloqua CEO Joe Payne last Thursday for the following interview. We covered a lot of ground, including three topics that we'll share here today: Eloqua's take on mobile technology, the company's move towards industry-vertical solutions, and its approach to the SMB market.
Eloqua announced Wednesday that it has filed a registration statement with the U.S. Securities and Exchange Commission relating to a proposed initial public offering of shares of its common stock. The company plans to list on the Nasdaq Global Market under the symbol ELOQ.
The number of shares to be offered and the price range for the offering have not been determined. However, an article on The Wall Street Journal’s web site estimated the company planned to sell up to an estimated $100 million of common stock in the offering.
J.P. Morgan Securities LLC and Deutsche Bank Securities Inc. will serve as joint book-runners for the offering, with JMP Securities LLC, Needham & Company, LLC, and Pacific Crest Securities LLC acting as co-managers.
Marketing software vendor ExactTarget went public March 22, raising approximately $161 million. The company says it will use the cash to expand its sales and marketing efforts, and to extend its overseas business operations.
After opening at an initial price of $19 a share, the company's stock is currently trading in the $27 range, or more than 40% above its initial price.