RealTime IT News

NetGravity Files for IPO

NetGravity Inc. in San Mateo, CA, filed a registration statement with the Securities and Exchange Commission for an initial public offering of 3 million shares of common stock.

The offering is being made through an underwriting group managed by BancAmerica Robertson Stephens, NationsBanc Montgomery Securities LLC and First Albany Corp. In addition, the company and certain stockholders of the company have granted the underwriters an option to purchase an additional 250,000 and 200,000 shares of common stock, respectively, to cover over- allotments, if any.

NetGravity, a provider of online advertising and direct marketing apps, offers its AdServer family of software products which, together with its professional services and support capabilities, are designed to aid merchants (vendors of products and services), advertising agencies and content publishers (including advertising networks).

Separately, the company said it named industry veteran Susan Atherton as vice president of sales. She has more than 21 years of high technology sales experience.

Atherton comes to NetGravity from Datamind Corp., a company that develops, sells and supports data mining software focused on customer lifecycle applications. Previously, she was vice president of sales at Red Pepper Software, area vice president at Ross Systems and a regional manager at Oracle Corp.