“Defensive patent aggregator” RPX (Rational Patent) filed an S-1 form with the SEC on Friday, stating its intention to go public. According to the form, RPX is looking to sell up to $100 million of its shares in an IPO underwritten by Goldman Sachs, Barclays, Allen & Company LLC and others.
Co-founded by former Intellectual Ventures VPs John Amster and Geoffrey Barker, RPX only launched two years ago but it revenues are through the roof, growing from $0.8 million in 2008 to $32.8 in 2009, the year in which it reached profitability. The company hit $10 million in profit on $65.2 million in revenue for the first nine months of 2010.
RPX currently has over 70 clients, and it says something about how broken the patent system is that there is so much demand for what is ostensibly patent troll insurance.
RPX Corporation (NASDAQ: RPXC) is a leading provider of patent risk solutions, offering defensive buying, acquisition syndication, patent intelligence, insurance services, and advisory services. Since its founding in 2008, RPX has introduced efficiency to the patent market by providing a rational alternative to litigation. The San Francisco-based company’s pioneering approach combines principal capital, deep patent expertise, and client contributions to generate enhanced patent buying power. By acquiring patents, RPX helps to mitigate and manage patent risk for its...
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