Thursday, May 17, 2007

TechTarget Raises $100 Million in IPO - Needham, MA

TechTarget, a Needham-based provider of specialized online content, has priced its initial public offering of stock to raise a total of about $100 million. The company sold 7.7 million common shares priced at $13 per share. Founded in 1999, TechTarget provides IT vendors with a way to reach corporate IT decision makers who are actively researching specific IT purchases. The company operates a network of 35 websites, each of which focuses on a specific IT sector, such as storage, security or networking. The company's advertisers in 2006 included Cisco, Dell, EMC, Hewlett Packard, IBM, Intel, Microsoft, Oracle, Research in Motion, SAP and Symantec. TechTarget had revenue of $55.9 million and a profit of $4.4 million for the nine months ended September 2006.


Post a Comment

<< Home