Convio files for IPO
Convio Inc., an on-demand software provider to nonprofits, has filed a registration statement with the Securities and Exchange Commission for a proposed initial public offering.
Convio helps nonprofits use the Internet strategically to build relationships with constituents for driving fundraising, advocacy and other forms of support. Convio has online solutions for fundraising, advocacy, Web content management, event fundraising, e-commerce and e-mail communications.
With the acquisition of GetActive in January and new clients added in the first quarter of 2007, Convio, Austin, TX, now serves more than 1,400 nonprofits, charities, associations and advocacy clients. Some of its clients include American Red Cross, Avon Foundation, Sierra Club and Thirteen/WNET New York.
For the first quarter of 2007, the company posted an 80 percent increase in revenue, thanks in part to the acquisition of GetActive, which also offers an eCRM solution for nonprofits. At the time, the company also showed a strong balance sheet with more than $15 million in cash.
Convio believes that by integrating the two companies, it has a strong foundation for future success.
The shares of common stock to be sold in the IPO are expected to be offered by Convio and some of its stockholders. The number of shares to be sold and the price range for the proposed offering have not yet been determined.