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E-mail specialist Responsys files for an initial public offering
The marketing services provider reported $63.4 million in revenue through Q3 2010.
Responsys Inc. announced today that it has filed a registration statement with the U.S. Securities and Exchange Commission for a proposed initial public offering of its common stock.
The number of shares to be offered and the price range for the offering have not yet been determined.
Responsys is an e-mail and cross-channel marketing software and services provider. The company assists clients with marketing through e-mail, mobile, social networks and the web. Responsys was the third-most mentioned vendor among retailers in Internet Retailer’s 2010 Top 500 Guide in the e-mail marketing category, with 26 Top 500 retailer clients.
According to the company’s S-1 form, for the first nine months of fiscal 2010 ended Sept. 30, Responsys reported:
- Total sales of about $63.4 million, up by 35.5% from about $46.8 million in the prior year period.
- 74% of revenue came from subscriptions to its on-demand software, the remainder from professional services.
- Net income was $3.1 million compared with $3.7 million for the first nine months of 2009.
- 266 customers, which the company defines as direct-billed subscription clients with $3,000 or more in subscription revenue in a given quarter. Customers come from a range of industries, including retail, consumer, travel, financial services and technology.
Responsys expanded its international presence last summer when in July it bought a majority stake in Eservices Group Pty. Ltd., a company based in Australia that provides similar services, and moved into Scandinavia with the opening of Responsys Denmark in August.
Morgan Stanley & Co. Inc. and Credit Suisse Securities are acting as joint book-running managers for the IPO, and William Blair & Co., JMP Securities and Pacific Crest Securities are acting as co-managers.