Marketing automation software provider Marketo has filed a $75 million initial public offering (IPO) with the Securities and Exchange Commission (SEC).
According to the filing, Marketo will trade on Wall Street under the name “MTKO.” Shares in the company will be offered by NASDAQ exchange, Credit Suisse and Goldman, Sachs & Company. Some commentators say the move is a sign of the growing potential of the marketing automation software market.
Marketo offers software that mines big data to find customers and sales leads. The software then scores potential buyers to present them with drip campaigns through email and social networking.
The marketing automation software has been growing in recent years. According to Michael Ni, chief marketing officer and senior vice president of products and marketing at Avangate, the software is letting marketers adapt to the changing nature of the industry.
“Individuals, meaning the customers, are in control and they choose the point of time to engage with an enterprise,” said Ni about the Marketo news.
“This makes nurturing and other ‘top-of-the-funnel’ activities critical, which marketing automation systems enable. Marketing is the new sales. The Marketo IPO will be successful because of the company’s customer-centric solution that addresses changing customer expectations.”
In its SEC filing, Marketo said the software allows companies to drive faster revenue, build long-term customer relationships, provide analytical insight, and increase marketing efficiency.
Also in its filing, Marketo offered potential risks to its IPO. The firm says that future strains on its relationship with its partner Salesforce could hurt the company’s future share prices.
Marketo says that an inability to further grow in the B2C market could hurt its future share prices as well.
According to data gathered for the report,‘Communications Infrastructure: The Backbone of Digital,’ 88% of IT professionals and 61% of marketers ranked their company’s current communication infrastructure as 'cutting-edge' or 'good.'
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