Archive for the ‘IPO’ Category

Postini IPO Coming

June 8, 2007

“We’ve been hearing that Postini, a security and compliance company, is on track to file for their initial public offering in the next few weeks.They recently hired a new CFO, Murray Demo, who can handle the IPO process. He was with Adobe for ten years and served as CFO for the last six. According to our source, the company held what is called a “bake off,” which is a selection process for the investment bankers who will market and sell the company’s stock in the IPO, and selected Merrill Lynch as the lead underwriter. Merrill Lynch just happens to be one of Postini’s early customes, so loyalty may have played a part.

Postini’s revenues are rumored to be at around a $75 million run rate, and is “very” profitable.”