motricity

Mobile Tech Developer Motricity Files For $250 Million IPO

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Motricity, a Washington-based company that develops a software platform for mobile phones, has filed for an IPO of up to $250 million.

Motricity’s core product is the ‘mCore Platform’, which offers a mobile search engine, storefront, and channels that allow carriers to deliver content to their customers. The company often acts as “the brand behind the brand” as it builds mobile software. Motricity’s carrier clients include AT&T, Verizon, T-Mobile, Sprint, and Virgin Mobile. Enterprise clients include TBS, Showtime, Vogue, and Yahoo.

The company generated $88M in revenue in the first 9 months of 2009, but has not reached profitability. On its S-1 filed today, the company says its growth strategies include:

  • Focus our efforts on expanding the breadth of our solutions with industry leading participants, leveraging our strong relationships with the top five wireless carriers in the U.S.;
  • Expand our business into developed and emerging international markets, such as those in Southeast Asia, India and Latin America, by applying our expertise gained from the U.S. market and fully leveraging the capabilities and scale of the mCore platform;
  • Advance our technological leadership through the enhancement of the mCore platform, and the introduction of new solutions that increase the total value we provide to our carrier and enterprise customers;
  • Leverage our core competencies, technologies, and existing market position to broaden our offerings and customer base and advance into new market segments;
  • Gain additional scale and technology through opportunistic acquisitions that expand our total market opportunity, provide complementary technologies and solutions, and aid our international expansion efforts; and
  • Enhance our smartphone solutions to fully capitalize on the extensive capabilities of these devices and their significant market adoption.

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