The Associated Press is reporting that Convio Inc., which provides fundraising and advocacy software and services for nonprofit organizations, plans an initial public offering, according to a regulatory filing Thursday with the Securities and Exchange Commission.
In the six months ended June 30, Convio's losses widened to $7.5 million from $6.2 million in the prior-year period. During the same period, Convio's revenue increased to $20.8 million from $15.5 million.
Convio plans to use the net proceeds from the offering for working capital and other general corporate purposes. The company said it may also use some of the net proceeds to repay debt or make acquisitions.