Money transfer service provider Xoom sets terms for $81 million IPO

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Xoom, which provides online consumer-to-consumer international money transfer services, announced terms for its IPO on Friday. The San Francisco, CA-based company plans to raise $81 million by offering 5.8 million shares (19% insider) at a price range of $13 to $15. At the midpoint of the proposed range, Xoom would command a fully diluted market value of $498 million. Xoom, which was founded in 2001 and booked $80 million in sales for the 12 months ended 12/31/2012, plans to list on the NASDAQ under the symbol XOOM. Barclays and Needham & Co. are the joint bookrunners on the deal.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: News Headlines , IPOs

Referenced Stocks: XOOM

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