More NewsFlycast Communications Files for IPO

Flycast Communications Files for IPO

Online ad network Flycast CommunicationsCorp. filed for aninitial public offering of stock thatcould raise as much as $40 million forthe Web advertising company.

Online ad network Flycast Communications Corp. filed for an initial public offering of stock that could raise as much as $40 million for the Web advertising company.

The San Francisco-based company combines unsold advertising space, mostly on small- to medium-sized Web sites, and uses its AdExchange software to match available space with marketers’ needs.

The company has agreements with SBC Communications Inc., the No. 2 U.S. local phone company, and BellSouth Corp., the No. 4 U.S. local phone company, to provide space that the regional Bell companies will offer to businesses that want to advertise locally.

Flycast’s software helps measure the response to ads, allowing the company to adjust advertising campaigns as needed.

Like the other public Web-advertising firms, Flycast isn’t profitable, according to a Bloomberg News report. The company last year lost $9.3 million on revenue of $8 million. Furthermore, the company said in its filing that it expects to keep losing money “for the foreseeable future.”

Flycast didn’t say how many common shares it plans to sell or what price it expects the stock to fetch in the IPO. It estimated the offering’s top value at $40.25 million only as a basis for calculating the SEC filing fee, Bloomberg said.

The registration statement didn’t say what percentage of the company is being offered to new investors. Officers and board members will maintain enough of a stake so that they “may be able to control” all shareholder votes, the filing said.

BT Alex. Brown Inc. will underwrite the stock sale, with Dain Rauscher Wessels and Hambrecht & Quist LLC. Flycast plans to have the shares listed for trading on Nasdaq under the symbol FCST.

Related Articles

GDPR: The role of technology in data compliance

Data & Analytics GDPR: The role of technology in data compliance

3w Clark Boyd
What companies can learn from the We-Vibe lawsuit about the Internet of Things

Legal & Regulatory What companies can learn from the We-Vibe lawsuit about the Internet of Things

8m Al Roberts
Has advertising arrived on Google Home?

Media Has advertising arrived on Google Home?

8m Al Roberts
Is Twitter slowly dying?

More News Is Twitter slowly dying?

9m Al Roberts
FedEx launches fulfillment service to take on Amazon

Ecommerce FedEx launches fulfillment service to take on Amazon

9m Al Roberts
Target is the top retail digital marketer, so why is it struggling?

Ecommerce Target is the top retail digital marketer, so why is it struggling?

8m Al Roberts
YouTube is "on pace to eclipse TV" thanks to savvy algorithm use

More News YouTube is "on pace to eclipse TV" thanks to savvy algorithm use

9m Al Roberts
YouTube is getting rid of 30-second unskippable pre-roll ads

Ad Industry Metrics YouTube is getting rid of 30-second unskippable pre-roll ads

9m Al Roberts