MaxPoint Interactive, a hyperlocal advertising startup backed by Seattle’s Madrona Venture Group, has filed for an initial public offering.
Madrona, though its Madrona Venture Funds, owns 23.6 percent of MaxPoint’s shares, and is the second largest shareholder behind Trinity Ventures’ 32.3 percent.
In its Form S-1 provided to the U.S. Securities and Exchange Commission, the North Carolina-based firm says it ended the first nine months of 2014 with $67.9 million in revenue, and a net loss of $11.5 million. MaxPoint has shown increasing revenue every year since 2011, when it says it generated $14.7 million, followed by $35.1 million in 2012 and $66.1 million the following year.
MaxPoint’s primary business is a “business intelligence and marketing automation software service” that drives local, in-store sales for national brands “in the consumer products, retail, automotive, healthcare, telecommunications and entertainment industries.”
The S-1 lists a proposed maximum aggregate offering price of $75 million. The company says in a statement that the number of shares to be offered and price range haven’t been determined.
MaxPoint intends to trade on the New York Stock Exchange under the symbol MXPT.
