Thursday, December 23, 2004
FastClick Files For IPO
Santa Barbara-based web advertising company FastClick filed for an IPO yesterday worth up to $92M. The company, which until a $75.0M round last month was completely bootstrapped by the founders, offers a performance-based advertising campaign solution across a network of web sites. The company reports in its S-1 filing that it had revenues of $38.9M in the 9 months ending September 2004, and reported revenues of $28.6M for 2003. For the 9 months ending September 2004 the company reported gross profits of $13.3M. The company's primary competition are ad networks run by AOL, ValueClick, Tribal Fusion, and Burst Media. The company now has 72 employees. The IPO is being underwritten by Credit Suisse First Boston, Citigroup, Thomas Weisel Partners, and Jeffries Broadview.