Organic Inc. Files for IPO
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Online agency and e-business developer Organic Inc. filed with the Securities and Exchange Commission for an IPO that could raise as much as $75 million in an initial stock sale.
Clients have included AT&T, Yahoo! Barnes & Noble Inc., Blockbuster, DaimlerChrysler AG, and Compaq Computer Corp.
The company has almost 700 employees in seven offices worldwide, including sites in Asia, Europe, and Latin America, the filing said.
Organic also founded Accrue Software Inc., which develops tools for measuring Web site performance. Accrue went public July 30.
The SEC filing said that Organic reported a net loss of about $13.9 million on revenues of almost $52 million for the nine months ending Sept. 30 compared with net income of $1.1 million on revenues of about $20.7 million for the same period a year earlier.
The company said it incurred additional expenses this year because it opened new offices and added staff.
Goldman, Sachs & Co. and Donaldson Lufkin & Jenrette will underwrite the stock sale with Thomas Weisel Partners LLC. Organic is seeking the Nasdaq symbol OGNC.