NetCreations Inc Files for IPO
Opt-in e-mail marketing firm NetCreations Inc. filed to raise asmuch as $57.5million in an initial public offering.
Opt-in email marketing firm NetCreations Inc. filed to raise as much as $57.5 million in an initial public offering.
“Our goal is to become the leader in opt-in direct marketing solutions on the Internet,” the company said in its filing with the SEC.
The company sells its lists to advertisers that seek to target their promotions to consumers willing to receive email ads in any of more than 3,000 categories. NetCreations said it has compiled and organized more than 3 million email addresses for about 1,500 marketers, including Dell Computer Corp., Ziff-Davis Inc. and J. Crew.
Rosalind Resnick, 39, the company’s chief executive, president and chairman, previously developed America Online’s NetGirl Forum, which focused on dating and relationships. She holds a 51 percent stake in NetCreations before the IPO. Ryan Scott Druckenmiller, 29, the company’s chief technology officer, holds a 49 percent stake.
The filing said the company reported net income of $605,863 in 1998, up from $260,349 in 1997. As of June 30, the company said it had net income of $1.3 million so far this year.
Its Nasdaq symbol is expected to be NTCR.
