Marketo, which provides on-demand marketing software for B2B professionals, announced terms for its IPO on Monday. The San Mateo, CA-based company plans to raise $73 million by offering 6.1 million shares (5% insider) at a price range of $11 to $13. At the midpoint of the proposed range, Marketo would command a fully diluted market value of $492 million.
Marketo, which was founded in 2006 and booked $66 million in sales for the 12 months ended 3/31/2013, plans to list on the NASDAQ under the symbol MKTO. Notable VC backers include InterWest Partners (27.2% post-IPO stake), Storm Ventures (14.2%), Mayfield Funds (11.6%), Institutional Venture Partners (10.5%) and Battery Ventures (7.3%). Battery Ventures is also purchasing 500,000 shares at the offer price in a concurrent private placement. Goldman Sachs and Credit Suisse are the joint bookrunners on the deal.
