2007 certainly seems to be the year that technology initial public offerings are coming back into style. A number of startups have nice double-digit millions revenue numbers and are at or near profitability. Last week: Netsuite. Today, Massachusetts based Constant Contact filed to go public.
The draft registration statement is here. CIBC, Thomas Weisel and Cowen & Company are the bankers on the deal. The company is at a nearly $40 million annual run rate (and ramping nicely I hear) and is just barely profitable. This year’s revenues should be closer to $50 million
The company has a relatively simple product that allows small businesses to create and manage email lists and newsletters. But that simple product is absolutely compelling to non-techy small busineses – and around 120,000 of them are Constant Contact customers, paying an average of $35/month. iContact is a competitor.