Current Needs Currency, UGC Company Files For IPO
Jan 29, 2008, 8:00 AM
Current Media, the user-generated media company closely associated by one of its high profile founders - Al Gore - Monday filed an initial public offering with the Securities and Exchange Commission to raise up to $100 million to help expand the fledgling multimedia company. The filing said Current has lost about $32 million since its launch in 2005, and reported revenues of $63.8 million in 2007, up from $37.9 million in 2006. Ad revenues were some $10 million in 2007, up about 25% over the year before.