Convio registers for IPO
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.
Convio indicated the offering price could total up to $86.3 million and they also indicated that some stockholders will sell shares in the offering.
* UPDATE: The Non-Profit Tech Blog has the "juicy" details about how many shares individuals own, detailed revenue and expenses, what they perceive as risks to their business, and more details from the SEC filing.
* UPDATE #2: The Austin Business Journal reported tonight that Convio was founded in 1999 and has 181 employees in Austin, and about 300 companywide
5 comments:
They should use some of that money to improve customer support.
For the first time since Blogger began requiring me to approve or reject comments before they were posted - I rejected three comments on this article today.
If you wish to post a comment, you can be as positive or negative as you want. You can even swear as much as you want. However, I'm not going to approve comments that slander people by name or use slurs.
My favorite part of the article was the backhanded slap blaming GetActive for having worse profit margins that Convio has. Almost as if they were saying, "Unfortunately, the company we acquired didn't charge their clients as much as we do.. so until we fix that, the combined companies will suffer."
It wasn't that long ago that some were calling for a boycott of Convio:
http://www.dailykos.com/story/2005/6/3/174432/0498
good!it' s very useful!thx!
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