L90 Files for $69 Million IPO
Page 1 of 1
L90 Inc., the online advertising and direct marketing company that recently changed its name from Latitude 90, filed for an IPO aimed at raising up to $69 million.
The company designs "beyond the banner" ad campaigns that feature sponsorships, co-branding and other marketing techniques. It has applied to trade the shares on Nasdaq under the symbol LNTY.
The underwriters are SG Cowen, Banc of America Securities LLC and Wit Capital.
L90, with about 94 employees at the end of August, is led by Chairman William Apfelbaum, the founder of CBS Plus, which oversees advertising sales across all seven of CBS Corp.'s media divisions, including its Internet properties.
CEO is John Bohan, a former advertising sales account executive at USA Networks Inc.