The company’s CEO and co-founder, Mark Pincus, intends to sell 16.5 million shares, which comes to 15% of his ownership position. It could net him nearly $230 million.
ExactTarget (NYSE:ET), a cloud provider of online marketing applications, priced its IPO at $19, which was above the $17 to $18 price range. So far in today’s trading, the stock is up 28%. The underwriters included JPMorgan (NYSE:JPM), Deutsche Bank Securities (NYSE:DB) and Stifel Nicolaus Weisel.
ExactTarget operates a platform that helps companies manage their online marketing campaigns. It’s a full-blown service that focuses on channels like email, SMS, mobile and social media. “It’s not easy for companies to manage the huge growth in online and mobile content,” said Scott Dorsey, co-founder and CEO of ExactTarget, in an interview shortly after the IPO launched today.
ExactTarget also connects to many sources of data, such as popular business applications from Salesforce.com (NYSE:CRM), Microsoft (NASDAQ:MSFT), SAP (NYSE:SAP) and Adobe (NASDAQ:ADBE). This makes it easier to create personalized marketing messages, which often allow for better results. Read
Zynga (NASDAQ:ZNGA) announced that it has acquired OMGPOP, which is the developer of the red-hot social game Draw Something (it’s similar to Pictionary). The rumor is that the price tag was around $200 million.
With nearly $2 billion in the bank, Zynga has a lot of firepower for dealmaking. And it will need to be aggressive to remain the dominant player in the wild social-gaming industry.
Draw Something is certainly a great property. On Facebook, it has 22.4 million monthly users. It’s also the top-rated game on Apple’s (NASDAQ:AAPL) app store. This kind of mobile savvy is critical for Zynga, which wants to find more opportunities to move beyond the Facebook platform. Read
The hot online ticketing company Eventbrite has launched a credit card reader for Apple’s (NASDAQ:AAPL) iPad and iPhone. The application allows entertainment venues to easily take payments, and Eventbrite CEO Kevin Hartz calls it a “mobile box office.”
But there’s a problem: The space is getting saturated. Just last week, eBay (NASDAQ:EBAY) announced its own card reader, and the space includes other larger rivals such as Intuit (NASDAQ:INTU) and VeriFone (NYSE:PAY).
All of this is bad news for the innovator in the market, Square. The mastermind of the company is Jack Dorsey, who is the co-founder of Twitter. Last summer, he raised a cool $100 million for the company and even got Richard Branson as an investor. Read
Since its IPO in mid-December, the shares of luxury designer Michael Kors (NYSE:KORS) have soared by 127%. The company now has a market cap of $8.6 billion, which is close to the value of prominent luxury stock Tiffany & Co. (NYSE:TIF).
The next step for Michael Kors: Get more money.
This week, Facebook launched the marketing phase of its IPO. And according to a Wall Street Journal report, it appears CEO Mark Zuckerberg already is bored with the process.
According to the report, Zuckerberg skipped a three-hour meeting with stock analysts and investment bankers — instead opting to work on product development. In fact, Zuckerberg might not even participate in the roadshow, which certainly would be unusual for a public offering.
It’s true that the IPO process can be distracting — especially for companies that have lots of competition. In the case of Facebook, it must deal with Internet giants like Google (NASDAQ:GOOG), as well as scrappy startups like Pinterest and Instagram. Read