WebSideStory Files $57.5M IPO
Like other Internet companies filing stock offerings recently, WebSideStory, San Diego, is profitable. In the first quarter it generated net income totaling $128,000 on $5 million in sales, according to its Securities and Exchange Commission filing. Last year, it lost $1.9 million on $16.4 million in revenue. It had $7.1 million in cash and cash equivalents as of March 1.
WebSideStory's analytics software tracks and reports on visitor Internet behavior for Web sites. Clients include Best Buy, FedEx and Walt Disney Internet Group. It competes in the crowded analytics space with firms such as Omniture and NetIQ.
Led by Google's anticipated stock offering, several Internet-related firms have filed IPOs. They include customer relationship management firm RightNow Technologies, e-commerce search engine Shopping.com and adware maker Claria.
WebSideStory's stock offering is underwritten by Friedman, Billings, Ramsey and Co., RBC Capital Markets, William Blair & Co. and Roth Capital Partners. The company plans to trade under the ticker symbol "WSSI."