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ExactTarget files for $100M IPO

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ExactTarget Inc., the Indianapolis-based e-mail marketing company, is again seeking to tap the public market after canceling plans for an initial public offering during the 2009 financial crisis.

The company aims to raise $100 million in an IPO, according to a filing Wednesday with the U.S. Securities and Exchange Commission.

ExactTarget announced its plans for the offering after 16 companies, including locally based Angie’s List Inc. and Chicago-based Groupon Inc., completed IPOs this month, the most since the same number was completed in all of July, according to data compiled by Bloomberg.

ExactTarget offers so-called software-as-a-service tools that businesses can use for marketing via e-mail, websites and social media. Revenue increased 55 percent, to $148 million, in the nine months through September from a year earlier, while its net loss widened to $29.3 million from $6 million, the filing showed.

In May 2009, Indianapolis-based ExactTarget withdrew its previous IPO filing, opting to raise $70 million in private capital from investors including Battery Ventures and Scale Venture Partners.

JPMorgan Chase & Co., Deutsche Bank AG and Stifel Financial Corp. are leading ExactTarget’s offering.

ExactTarget has been investing with abandon to innovate, build market share and expand overseas. In the past 24 months, ExactTarget has bought three companies, launched an international division with operations in the United Kingdom and Australia, and added more than 500 employees. Its work force now tops 1,100, including more than 600 in Indianapolis.

One of ExactTarget’s major competitors, San Bruno, Calif.-based Responsys Inc., staged its own IPO in April.

Both companies are pushing beyond e-mail marketing to allow customers to build relationships with customers via mobile marketing, social media and landing-page marketing.

According to Massachusetts-based Forrester Research, U.S. spending on e-mail, mobile and social media marketing is projected to grow from $4.8 billion this year to $15.7 billion by 2016.
 

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  1. So the Mayor adds another non value added layer to having a vehicle towed? Whereby the City Government RECIEVES AN ILLEGAL KICKBACK FROM A LGOISTICS COMPANY THAT SUBS THE WORK TO LOCAL TOW COMPANIES? What is the service the City performs for receiving the "tribute"? This is RICO!!!!! What a corrupt and unnecessary layer. What a dirtbag Mayor and his cronies.

  2. Owner occupied housing. Clear enough?

  3. So people think I am paranoid. It's from experience in dealing with puds requested by developers who make major donations themselves to representatives, have nice fund raisers for those running for office and hide through pac's. then there are the public relation firms. You will note some pr comments below. You there Clyde Lee? My opinion. Commercial along 421, great. Multifamily housing, terrible idea that will change the town. Senior condos or zero lot line homes west, great. I suggest keeping all entries to commercial areas at 421. All entries to owner occupied on sycamore. Will keep the traffic on sycamore down some. Two other things. You can't trust what will be there in 10 years. Steve builds quality stuff, but areas change over time. Look at the changes at the wall mart center at 86th and 421 over the last 10 years. Look at the apartments and neighborhoods behind St Vincent's. Raintree properties WILL decrease in value if commercial and multifamily goes in near. It has already been happening around the bridges area. The houses that have been sold recently are way below market. Several deals not closed due to the Illinois construction and the whole unsurety of the bridges. It's pretty simple, Zionsville will approve the whole thing because the city council has been groomed over a LONG period of time for this. I might even suggest some are in their position as a result of this.

  4. Esta, do you have a dog in this fight? You seem to really want to knock anyone against this project. No, I didn't move to Indiana for the architecture. I moved here for that red barn in the field. The horses and fields of corn. A place that is NOT overdeveloped. There are plenty of nearby places in Indianapolis that could be REDEVELOPED instead.

  5. RKW - OK, we get it, you're paranoid. The question is, are you paranoid enough? Greg - Yes, Pittman(s) is (are) at it again. They are developers, they build things. It's what they do. So when you go to work tomorrow, Greg, you're at it again too. Cliff - Really? You moved to Indiana for its progressive architecture? That's like moving to England for the cuisine. Zionsvillain - The house you moved to was once a field or woods. I'm willing to bet folks were upset when that ground was plowed under and a house was built. But I guess now that you are in, everything should stop? "My house was OK, but the next one is sprawl." SE Guy - Please don't paint us with such a wide brush. Most reasonable Zionsville residents welcome planned, measured development.

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