Tuesday, May 11, 2004

PeopleSupport Files For $86M IPO

Los Angeles-based PeopleSupport (www.peoplesupport.com) has filed for an IPO to raise up to $86M. PeopleSupport provides offshore business processing outsourcing from the Phillipines, including inbound customer management, sales, technical support, and direct response sales. The company also provides accounts receivable management services. The company earned $8M on $30M in revenue in 2003. The IPO is being underwritten by SG Cowen & Co. and Piper Jaffray. PeopleSupport is backed by Accel, Benchmark, idealab, and Rustic Canyon.