Eloqua, Jive file $100 million IPOs

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Marketing technology companies Eloqua and Jive Software filed separate $100 million initial public offerings this week, according to documents submitted to the US Securities and Exchange Commission (SEC).

Eloqua, a marketing automation company, reported in its filing that its total revenue increased 38% year-over-year to $31.7 million in the first six months of 2011. The company's full-year revenue increased from $32.9 million in 2008 to $41 million the next year and $50.8 million in 2010, representing year-over-year increases of 25% and 24%, respectively.

The firm also reported net losses of $12.4 million in 2008, $4.2 million in 2009, $1.5 million in 2010 and $3.5 million for the six months ending June 30 of this year.

The Vienna, Va.-based company had an accumulated deficit of $148.6 million as of June 30. It conceded, in the filing, that it may not achieve consistent profitability.

“We will need to generate and sustain increased revenue levels in future periods in order to become consistently profitable, and, even if we do, we may not be able to maintain or increase our level of profitability,” the company said in the filing.

Last year, subscription and support services generated 93% of Eloqua's $50.8 million in revenue. The company spent $22.1 million on marketing and sales in 2010.

The company has 1,002 customers, including Adobe Systems, American Express Co. and Dell. It had 284 employees worldwide, including 115 in the US, as of June 30. Eloqua's workforce has 90 employees in marketing and sales, 64 in product development, 65 in customer support, 26 in professional services and 39 in general and administrative positions.

Jive Software, a social media monitoring company, reported revenue of $46.3 million last year, an increase of 54.3% compared with 2009. The company generated revenue of $34 million in the first half of this year, a 77.1% increase compared with the first half of 2010.

The company reported a net loss of $27.6 million last year, $4.8 million in 2009 and $11.3 million in 2008. In the first six months this year, its net loss was $30.6 million.

The Palo Alto, Calif.-based company said it does not expect to be profitable for the foreseeable future.

“We have incurred losses in each of the last five years,” the company said in its filing document. “As we continue to invest in infrastructure, development of our solutions and sales and marketing, our operating expenses will increase significantly.”

Jive's sales and marketing expenses were $28.6 million last year.

As of June 30, Jive had 635 enterprise customers, including Hewlett-Packard Development Co., SAP AG and T-Mobile USA. The company had 358 employees as of June 30.


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