Marketo is heading for the Stockmarket
You will soon be able to have another common share of Marketing Automation to add to your collection. Marketo has announced their plans to take the plunge and file for a $75 million IPO.
Just a few weeks ago, Marketo rolled out a new application that emphasized its social media integration. They will be trading under “MKTO” on the Nasdaq Global Select Market exchange.
Revenue and Deficit
Back in November 2012, the marketing automation company Marketo raised $50 million in a round led by Battery Ventures. It is always interesting to look at the SEC filings. Marketo shows a revenue growth year over year with $14 million in 2010, $32.4 million in 2011 and $58.4 million in 2012. But costs also grew larger.
The company had net losses of $11.8 million, $22.6 million and $34.4 million in the period between 2010-2012. (bummer!) According to the filing it “may not achieve consistent profitability in the future”. By the end of December 2012, the company had a deficit of $82.2 million.
In the document Marketo also said that its business is in part dependent on a strong relationship with Salesforce.com. “We rely on the fact that Salesforce.com continues to allow us access to its APIs to enable these customer integrations,”
Marketo has 2,000 customers including Capgemini, CenturyLink, Citrix, Gannett, General Electric, Medtronic, Moody’s, Panasonic, Symantec and Universal Music Group.
The marketing automation sector is growing at a speedy rate, or is at least one of “the hottest things” in the email marketing++ world. Recently Oracle acquired Eloqua for $871 million. So before long, we might have to update the list of ESPs on the stockmarket.
Back in 2011 Exact Target and Marketo announced a strategic partnership, but in October 2011 ExactTarget acquired Pardot.
Update: Marketing automation company Marketo Inc. went public on 17-05-2013, selling 6.1 million shares at $13 per share raising a total of 79 million dollars with their initial public offering.