Prism Ventures Posts

LogMeIn Preparing For $100 Million IPO On July 1

logmein-logo

Earlier this week remote access software company LogMeIn announced that they are preparing for an IPO.  The company plans to offer 6.66 million shares at a price of about $14-$16.  The IPO is expected to take place on July 1.  LogMeIn will trade under the NASDAQ with the stock symbol LOGM.

LogMeIn had a net income of $1.5 million for the three months ending March 31 on revenue of $17.2 million.  About a year ago, the company had a net loss of $4.2 million on revenues of $9.9 million during the same time period.  Intel owns 5% of LogMeIn and other investors include Prism Venture Partners, Polaris Venture Partners, Technology Holding Central and Eastern European Funds, and Integral Capital Partners.

LogMeIn customers include AMD, CardinalHealth, 3M, Best Buy, IBM, DHL, SAP, etc.  The company is based on Woburn, Massachusetts.  The company indicated the IPO back in January.

[via AlarmClock/MarketWatch]

New Digital Entertainment Site, Worldwide Biggies Raises $9 Million Series A

Worldwide Biggies LogoWorldwide Biggies is a new digital entertainment website that was started by Albie Hecht. Hecht is best known for his work on Spike TV and Nickelodeon. For example, he produced shows like Clarissa Explains It All, Rugrats, Jimmy Neutron: Boy Genius, etc.   Hecht also oversaw SpongeBob SquarePants and Blue’s Clues.  Now Hecht is making a comeback full force and has raised $9 million in Series A from NBC Universal, Platform Equity, Greycroft Partners, Hearst Corporation, and Prism Ventures.

“The production studio creates content that’s directed for a multi-platform distribution model, offering content to be streamed online, on mobile phones, television, film, and consumer products. Covering all its bases, Worldwide Biggies is looking to attract the entire gamut of advertisers, regardless of what type of campaign medium they’d like to try their hand for[1],” wrote Kristen Nicole of Mashable.

Worldwide Biggies is based in New York and has also struck a deal with TMZ.com.  From what I understand, TMZ, is working with Worldwide Biggies to create a website called StarVsStar, a fantasy betting-like league for celebrity controversies.

Worldwide Biggies was started in 2005 and the funding that the company received seems to be consistent with other recent funded-comedy website launches like FunnyOrDie and NationalBanana.

References:
[1] Mashable: Worldwide Biggies Funded by NBC and Hearst
[2] Red Herring: NBC Funds Worldwide Biggies