CreditCards.com Ups IPO to $185M
Friday, November 2nd, 2007
Company based on valuable domain name increases IPO amount, sets ticker symbol.
CreditCards.com has increased its planned IPO from $115M to $185M, according to a filing with the SEC. The company and its stockholders will together sell over 10M shares at between $13-$15 each. It plans to trade on the NASDAQ under the ticker symbol CCRD.
CreditCards.com first announced its planned IPO in an SEC filing in August. Austin Ventures is a major owner of the company.
The amended SEC filing also reports updated financials. Through the first three quarters of this year the company has generated $44.6M in revenue and a net loss of $0.7M. Its operating expenses nearly doubled from the same period last year, resulting in the loss. Perhaps the most amazing number is the revenue per visitor, which has increased from $3.29 during the first three quarters of last year to a whopping $4.90 per visitor this year.
Although the company isn’t just a domain name, it wouldn’t be anything like what it is today without the domain CreditCards.com. Internet Real Estate Group (formerly DealJam) sold the domain for only $2.75M in 2004 to Click Success. Click Success’ Daniel H. Smith pocketed $97.7M from the sale to an Austin Ventures-backed group in 2006.
Company based on great domain ups IPO by $50M…
Domain Name Wire writes: CreditCards.com has increased its planned IPO from $115M to $185M, according to a filing with the SEC. The company and its stockholders will together sell over 10M shares at between $13-$15 each. It plans to trade on the NASDAQ…
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