Call center SaaS provider Five9 sets terms for $100 million IPO
Five9, which provides cloud-based software to call centers for improved turnaround and customer satisfaction, announced terms for its IPO on Monday. The San Ramon, CA-based company plans to raise $100 million by offering 10 million shares at a price range of $9 to $11. At the midpoint of the proposed range, Five9 would command a fully diluted market value of $515 million. Five9, which was founded in 2001 and booked $84 million in sales for the fiscal year ended December 31, 2013, now plans to list on the NASDAQ (previously NYSE) under the symbol FIVN. Five9 initially filed confidentially on December 6, 2013. J.P. Morgan, Barclays and BofA Merrill Lynch are the joint bookrunners on the deal.