Prime Response Files to Raise $52.3 Million in IPO

Share this article:
Marketing software provider Prime Response Group Inc., Cambridge, MA, filed with the Securities and Exchange Commission last week to raise about $52.3 million in an initial public offering. The company did not disclose how many shares it plans to sell or the expected range of the opening price for those shares.


The company, which makes campaign management software that seeks to help large corporations create and execute targeted marketing campaigns, said it lost about $15.5 million on $13 million in revenues through the first nine months of 1999. It filed to trade on the Nasdaq exchange under the symbol PRME.


The company said it would use about $10.4 million of the proceeds from the IPO to pay some holders of its series B preferred stock and $4.3 million to pay a promissory note. Proceeds also will be used for working capital, product development, acquisitions and general corporate purposes.
Share this article:
You must be a registered member of Direct Marketing News to post a comment.

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

More in Agency

Publicis Constructs Pan-Agency Marketing Platform With Adobe

Publicis Constructs Pan-Agency Marketing Platform With Adobe

Riding on the Adobe Marketing Cloud, the Always-On Platform aims to unite all Publicis Agencies around delivering cross-channel efficiencies to clients.

Mohegan Sun Bets on an Integrated Customer Experience

Mohegan Sun Bets on an Integrated Customer Experience

Casino and entertainment destination Mohegan Sun went all-in and overhauled its website to improve its guest experience online and on-site. The casino's payoff was big.

Former Lenovo Executive to Head Digital Marketing at Interakt

Former Lenovo Executive to Head Digital Marketing at ...

Elijah Degen brings 15 years of experience to his new role at the digital agency.