The marketing automation sector is one of the fastest growing in the burgeoning enterprise space. We see proof of this today with Eloqua’s initial public offering.
The stock opened at $12.02 per share on the NASDAQ for the SaaS provider of performance management technology. It was up 12.92% in trading from its $11.50 original stock price. The company sold eight million shares. It had a price range of $10-to-$12 per share.
Eloqua is halfway through its fiscal year. In 2011 the company had revenues of $71.3 million, up 40%. In 2011, the company has 327 employees. That’s up 15% compared to 2010.ffer as a software as a service (SaaS).
According to WSJ, Eloqua’s revenue increased 42% to $45 million this year, although the company reported a net loss of $5.5 million, compared with a loss of $3.5 million in the first half of the prior year.