Follow-Up: Eyeblaster Launches IPO

logo_eyeblaster.gifEyeblaster officially filed its Nasdaq IPO today hoping to raise enough cash to viably compete with online ad giants Google and Microsoft. Both of those companies have made clear their goals of competing fiercely to dominate the internet marketing field; Google recently bought DoubleClick for $3.2 billion and Microsoft bought Atlas Media for $6 billion.

Eyeblaster is seeking to raise $115 million to help fund its development of online marketing campaign solutions and become the dominant player in this lucrative field. Though it all began on a small scale back in 1999 in Ra’anana, Israel, the firm now has offices in 23 countries, is headquartered in New York, and counts MSN, Yahoo and AOL among its clients.

While it may seem an inauspicious time to be trying to raise money on Wallstreet, the firm is confidently pushing ahead. And it may just be the right time for such a move, as its revenues grew 62% to $44 million in 2007, and net profits rose 98% to 7.4 million, according to the Marker.

Check out this earlier post on Eyeblaster or the official press release for more info.

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