Bazaarvoice Aims for $90m IPO

US-based word-of-mouth specialist Bazaarvoice has announced it is to launch an initial public offering (IPO) of approximately 9.4 million shares, 9 million of which will have a target price range of between $8 and $10, with a further 484,000 offered by existing shareholders.

Founded in 2005 by CEO Brett Hurt (pictured), Bazaarvoice offers technology, analytics and expertise to help companies enhance the online shopping experience with related social media applications. At the beginning of the year, the firm relocated its Chief Client Officer Mark Riggs to London, with a remit to raise the profile of the company's solutions across Europe.

In the SEC filing announcing the IPO, the firm said it did not have any specific plans for how it intends to use the proceeds. According to analysts, if the shares are sold at the midpoint of the proposed range, Bazaarvoice will have a market value of $570m.

The company also reported results for the nine month period until January 31, 2012 - revenues soared 65% to $74.7m, while losses rose to $18m from $15.4m in the prior year period, as a result of increased operating expenses.

Web site: www.bazaarvoice.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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