SAN RAMON, Calif. ( TheStreet) -- Online auction site Reply.com has filed for IPO, the latest in a string of technology companies to take the public plunge in a tough market.
The company filed its S-1 with the SEC and hopes to raise $60 million through its offering. Jefferies & Company and Piper Jaffray will act as joint book-running managers, with Needham & Company and Think Equity acting as co-managers.
"We're still in a tough IPO market, without question -- there have already been seven postponements in 2010," Scott Sweet, senior managing partner at analyst firm IPO Boutique, told TheStreet. Companies going public at the moment, he added, should be extremely careful not to price their shares above what the market is willing to pay.Described as an online marketing specialist, Reply.com touts its ability to provide clients with locally-targeted information on prospects in areas such as automotive and real estate. The company's customers include Ford (Ford), GM (GM) Chrysler (GM) and Zip Realty. According to the company's S-1, Reply.com generated over 700,000 leads and worked with over 5,000 advertisers during the fourth quarter of 2009. The firm, which is profitable, grew its revenue from $23.3 million in fiscal 2008 to $34.3 million last year. IPO Boutique's Sweet, however, warns that companies like QuinStreet and Reply.com face a major challenge from Google (GOOG), which has ramped up its online advertising efforts, launching services such as AdSense and AdWords in an attempt to monetize its vast search business.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV