Patent Risk Advisory Firm RPX Files For An IPO

“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.