On-demand marketing automation company Marketo sets terms for $73 million IPO

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Marketo, which provides on-demand marketing software for B2B professionals, announced terms for its IPO on Monday. The San Mateo, CA-based company plans to raise $73 million by offering 6.1 million shares (5% insider) at a price range of $11 to $13. At the midpoint of the proposed range, Marketo would command a fully diluted market value of $492 million. 

Marketo, which was founded in 2006 and booked $66 million in sales for the 12 months ended 3/31/2013, plans to list on the NASDAQ under the symbol MKTO. Notable VC backers include InterWest Partners (27.2% post-IPO stake), Storm Ventures (14.2%), Mayfield Funds (11.6%), Institutional Venture Partners (10.5%) and Battery Ventures (7.3%). Battery Ventures is also purchasing 500,000 shares at the offer price in a concurrent private placement. Goldman Sachs and Credit Suisse 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

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