Web measurement company comScore files for an IPO
Though no terms have been set, comScore Networks Inc., which measures web merchants and other vertical markets on Internet traffic patterns or other digital metrics, wants to go public.
In 2006 comScore posted net income of $5.66 million on revenue of $66.29 million vs. a net loss of $4.42 million on revenue of $55.26 million in 2005, according to the company’s S1 filing with the Securities and Exchange Commission.
ComScore delivers digital marketing intelligence through its Media Metrix products and through comScore marketing solutions. Media Metrix delivers digital media intelligence by providing an independent, third-party measurement of the size, behavior and characteristics of web site and online advertising network audiences among home, work and university Internet users as well as insight into the effectiveness of online advertising, according to the S1 filing. The company’s marketing solutions products combine the proprietary information gathered from the comScore panel with the vertical industry expertise of comScore analysts to deliver digital marketing intelligence, including the measurement of online advertising effectiveness, customized for specific industries.
ComScore will use the proceeds for general corporate purposes, which may include working capital, capital expenditures, other corporate expenses and acquisitions of complementary products, technologies or businesses. The company has no current planned acquisitions, according to the S1.
As of December 31, 2006, comScore had 706 customers, including over 100 Fortune 1000 clients. Microsoft is comScore’s single largest account – its spending accounted for 5% of revenues in 2004, 14% in 2005 and 12% in 2006, according to the S1 filing. International revenues comprised approximately 9% of total revenues in 2006 as compared to 7% of total revenues in 2005.
Credit Suisse and Deutsche Bank are managing comScore’s initial public offering.
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