Thursday, August 30, 2007

Convio Files For IPO

Austin, Texas-based Convio has filed for an IPO, saying Thursday in a filing with the SEC that the firm is looking to raise up to $86.25M in an IPo on the NASDAQ Global Market. The firm said it is looking to trade under the symbol "CNVO." The firm's IPO is being underwritten by Goldman, Sachs & Co., Thomas Weisel Partners, William Blair & Company, JMP Securities, and Pacific Crest Securities. Convio is venture backed by Granite Ventures, Austin Ventures, El Dorado Ventures, Adams Street Partners, Silverton Partners, Windspeed Ventures, and others. The company most recently raised $30M in a venture round in March. Convio develops software used for managing online relationships for nonprofits; the firm reported that it lost $4.9M on revenues of $21.56M in 2006, not including results from GetActive Software, which it acquired in January.