A discussion draft of the Online Sales Tax Simplification Act of 2016 is expected to be introduced in Congress soon.
Though it has yet to set final terms, analytics provider Omniture is going public. It will use the proceeds to expand its sales and marketing program, improve its networking infrastructure and make a software licensing payment of $4 million.
Though it has yet to set final terms, web analytics provider Omniture Inc. is going public.
In its S1 papers filed with the Securities and Exchange Commission last week, Omniture says it will use the proceeds to expand its sales and marketing program, improve its networking infrastructure and make a software licensing payment of $4 million.
The IPO papers also state that Omniture posted 2005 sales of $42.8 million on a net loss of $17.4 million, compared with sales of $20.5 million and a net loss of $1.3 million in 2004. “We have incurred significant losses in recent periods primarily as a result of significant investments that we have made in our network infrastructure and sales and marketing organization,” Omniture says.
Omniture has more than 900 customers, including AOL, Apple Computer, eBay, Expedia, Ford Motor Co., Gannett Co., Hewlett-Packard, Major League Baseball and Microsoft using its analytics applications. AOL accounted for 11%, or about $4.7 million of total revenues in 2005, Omniture says.
Morgan Stanley and Credit Suisse head the investment banking firm underwriting the transaction.