Fastclick Plans IPO
SEC filing says the money would cover general corporate costs, including operations and acquisitions.
SEC filing says the money would cover general corporate costs, including operations and acquisitions.
Fastclick filed for a public offering today. The company operates a large online ad network of 7,500 Web sites, as well as an ad management platform.
Fastclick aims to raise $92 million in the IPO. Its SEC filing says the money would cover general corporate costs, including operations and acquisitions.
The company completed a $75 million series of funding last month, led by Highland Capital Partners, Oak Investment Partners and Disney’s capital investment arm. Fastclick’s revenue for the first nine months of 2004 was $39 million, a 111 percent jump over the same period last year.
Fastclick’s advertisers include direct and brand marketers. The company has approximately 75 employees.
Fastclick’s stated acquisition plans come as another public ad management firm, DoubleClick, prepares to sell some or all of its divisions. Fastclick said in its filing it had no specific acquisition targets, but CFO Fred Krupica didn’t rule out buying a chunk of DoubleClick.
aQuantive, which owns ad management player Atlas DMT, has said its ability to bid on DoubleClick would be hampered by its recent acquisition of Avenue A/Razorfish.
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