Marin Files IPO to Raise $75m, as Losses Rise

In the US, marketing analytics and campaign management firm Marin Software has filed for an initial public offering (IPO) in a bid to raise $75m, after admitting that it does not expect to be profitable in the foreseeable future.

Founded in 2006 by CEO Christopher Lien (pictured), San Francisco-based Marin helps advertisers track, analyze and manage ad campaigns across Google, Bing, Yahoo!, Baidu and other search engines. Its flagship product, Marin Search Marketer targets the workflow, analysis and optimization needs of large-scale advertisers and agencies, promising to save time and improve financial performance.

For the first nine months of 2012, the company reported a 72% increase in revenue to $42.5m, up from $24.m in the prior year period. However, net losses also rose, from $17.4m to $19.2m, on the back of costs associated with extending its data capacity and sales and marketing teams.

In an SEC filing, Marin stated: 'We do not expect to be profitable in the foreseeable future and we cannot be certain that we will be able to attain profitability on a quarterly or annual basis.'

To date, the company has raised $78.5m, including a $30m Series F round raised early last year. Its common stock will be listed on the New York Stock Exchange under the ticker symbol 'MRIN'.

Web site: www.marinsoftware.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.