Friday, August 10, 2007

CreditCards.com Files For IPO

Austin, Texas-based CreditCards.com, a provider of an online marketplace for connecting consumers with credit cards, said in a filing this morning with the SEC that it is looking to raise up to $115M in an IPO on the NASDAQ Global Market. The IPO is being underwritten by Credit Suisse, Citi, and Thomas Weisel Partners. According to the firm's IPO filing, it earned $18.3M revenues of $42.9M for the year ended December 31, 2006, and earnings of $2.75M on revenues of $27.36M for the first six months ended June 30th. CreditCards.com has received venture backing from Austin Ventures and American Capital; Austin Ventures owns 65.6% of the firm's outstanding stock.