VPN Software Company, LogMeIn Preparing For An IPO
Seeing a VPN software company file for an IPO is interesting.Â Personally, I’ve never heard of any other VPN company close to doing so.Â LogMeIn hopes to raise $86.3 million through their IPO based on its filing with the SEC.Â LogMeIn is based in Woburn, Mass.Â According to GigaOM, LogMeIn sales reported a loss of $6.5 million in sales from December-September 2007 but grew 151% since the previous year’s 9 months.
LogMeIn uses P2P to connect users between their multiple computers.Â Since LogMeIn focuses on enterprise P2P, an IPO could be of more serious interest to the stock market than if it was just open-source software.Â LogMeIn is expected to trade under NASDAQ with the symbol, LOGM.
Previous investors of LogMeIn includes Intel, Polaris Venture Partners, Prism Venture Partners, Integral Capital Partners.Â LogMeIn customers include 3M, AMD, CardinalHealth, Best Buy, IBM, DHL, SAP, and Rolls-Royce.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry