Bazaarvoice, a service-as-a-software (SaaS) platform that enables retailers to better determine social trends based on online consumer sentiment, filed on Friday with the SEC to raise up to $86 million in an initial public offering. The company's platform allows its clients to use online customer feedback to their advantage by capturing and analyzing online opinions and reviews found on social networks, wikis and blogs to more-effectively evaluate the needs and desires of the average shopper. Bazaarvoice has thus far developed a list of 587 active clients across an assortment of different industries, including tech-giant Microsoft, consumer products provider Procter & Gamble, and online travel planner Orbitz.
The Austin, TX-based firm, which was founded in 2005 and booked $64 million in sales for the 12 months ended April 30, 2011, plans to list under the symbol BV but has yet to select an exchange. The company has raised capital from several venture capital firms, including Texas-based Austin Ventures and Boston-based Battery Ventures, and joins Brightcove (BCOV), Genomatica (GENO), Jive Software (JIVE), and Angie's List (ANGI) to become the fifth venture capital-backed IPO to file this week. Morgan Stanley, Deutsche Bank, and Credit Suisse are the lead underwriters on the deal. Terms and timing have yet to be disclosed.
