Email marketing software giant ExactTarget has just submitted its second S-1 for a public offering, seeking to raise as much as $100 million. In 2007, ExactTarget filed for an initial public offering but delayed its IPO plans and withdrew its application with the SEC to trade on the Nasdaq under the symbol EXTG due to the recession. Clearly, the company has considered the current IPO climate to be more favorable.
ExactTarget’s software provides enterprises with a email marketing platform that powers everything from email coupon offers and automated fraud alerts to e-statements and SMS text messages. ExactTarget’s software provides email marketing tools for a widespread group of big-name clients, including CareerBuilder.com, Expedia.com, the Gannett Co., and The Home Depot.
The company says it has achieved 43 consecutive quarters of revenue growth and annual dollar-based subscription revenue renewal rates of over 100% in each of the years ended December 31, 2009 and 2010. In 2009 and 2010, the company posted revenue of $95.4 million and $134.3 million, representing period-over-period growth of 32% and 41% respectively.
For the nine months ended September 30, 2011, ExactTarget’s revenue was $148, a 55% increase. During this period, the company took a loss of $29 million. In 2010, the company lost $12 million.