Envivio, which enables 220 service and content providers to deliver on-demand video services to their customers, announced terms for its IPO on Tuesday. The South San Francisco, CA-based company plans to raise $66 million by offering 6 million shares at a price range of $10 to $12. At the mid-point of the proposed range, Envivio will command a market value of $283 million. Envivio was founded in 2000 and booked $30 million in sales its its fiscal year ended January 31, 2011, up from $16 million in the prior year. In the three months ended April 30, 2011, sales increased 89% to $9.9 million, while its operating loss narrowed slightly from -$1.4 million to -$1.2 million. The company plans to list on the NASDAQ under the symbol ENVI. Stifel Nicolaus Weisel, Piper Jaffray, Needham & Company and William Blair are the underwriters on the deal.
