NameMedia Files To Raise $172.5 Million Through IPO

  • November 5, 2007
Domain name company NameMedia Inc. has filed for an initial public offering to raise up to $172.5 million. NameMedia makes money through the sale of domain names and by selling advertising on a network of Web sites developed from unused domain names. Overall, it monetizes a portfolio of more than 2 million owned and third-party domain names.

The Waltham, MA-based company posted net income of $2.6 million on revenue of $61 million last year, and profit of $160,000 on revenue of $58 million through the first nine months of 2007. A key focus of its growth strategy is to develop a network of premium sites based on enthusiast communities such as photography and gardening. Major investors include Highland Capital Partners and Summit Partners.

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