Mindbody, which offers cloud-based business management software for health and wellness SMBs, filed on Monday with the SEC to raise up to $100 million in an initial public offering.
E-commerce IPOs may be going through a Renaissance. Close peer Shopify (SHOP) and Chinese e-commerce outsourcer Baozun are both on the IPO calendar for next week. Etsy (ETSY) raised $267 million in April and popped 88% on its first day, while GoDaddy (GDDY) went public a few weeks prior and rose 31% on its debut. Fitness-focused consumer tech company Fitbit filed last week for an IPO that we estimate could raise $400 million or more.
The San Luis Obispo, CA-based company, which was founded in 2001 and booked $77 million in sales for the 12 months ended March 31, 2015, plans to list under the symbol MB. It has not selected an exchange. Mindbody initially filed confidentially on March 27, 2015. Morgan Stanley, Credit Suisse and UBS Investment Bank are the joint bookrunners on the deal. No pricing terms were disclosed.
