Marketo raises US$79m in IPO listing

Marketing automation software vendor launches on the Nasdaq, reaching share price highs of $26.70 in its first week of trade

Cloud-based marketing automation software vendor, Marketo, has raised US$79 million in its initial public offering (IPO) in the US, marking the next phase in its growth strategy.

The company filed for a US$75m IPO in April and officially entered the Nasdaq Stock Exchange as ‘MKTO’ on 17 May, offering 6.1 million shares at $13 per share. Of these, 5.75 million were available to the public, raising US$74m. Since launching in 2006, the business has also raised $107m in venture capital funding to expand its cloud-based software offering.

Marketo now has 2300 customers, 27,000 online community members and 370 employees. In a statement to customers and partners, president and CEO, Phil Fernandes, said the IPO marked an exciting turning point in the company’s history.

“In today’s data-centric, multi-channel business environment, marketing professionals are being pushed to fundamentally change how they engage and interact with prospects and customers,” he stated.

“Marketo is dedicated to providing a marketing software platform that enables organisations to do just that and engage in modern relationship marketing. Today’s offering is just one step along the journey towards this goal, and I’m more excited than ever about the opportunities in marketing today.”

At time of writing, Marketo shares were trading at $24.40. According to insight firm Seeking Alpha, the firm was valued at $869m at close of trade on 20 May, when shares reached a high of $26.70.

“Marketo is transforming marketing with its innovative platform, which helps customers better target and execute marketing strategies that have greater and more meaningful impact on their businesses,” commented senior vice-president of Nasdaq Corporate Client Group, Nelson Griggs.

"We congratulate Marketo on its successful listing and look forward to a long and enduring partnership in the years to come."

Follow CMO on Twitter: @CMOAustralia or take part in the CMO Australia conversation on LinkedIn: CMO Australia.

Join the CMO newsletter!

Error: Please check your email address.
Show Comments

Supporting Association

Blog Posts

​ It’s time to walk the walk and get creative about data

Why do people still treat data and creativity as if they are two separate streams, running in parallel but never quite meeting?

Jason Dooris

CEO and founder, Atomic 212

Tapping behavioural science for consumer influence

We know full well the business we’re in as marketers is really the business of choice. But recent discoveries from behavioural science are leading to a psychological revolution that challenges many of the accepted models of how communication, creativity and advertising influence a consumer’s preferences.

Kyle Ross

Account director, TRP

10 ways of changing your culture through self-awareness

Did you hear about the manager who always shot the messenger whenever they brought bad news? He eventually stopped hearing bad news. Unfortunately for him, this wasn’t because there was none to report.

Steve Glaveski

Co-founder, Collective Campus

There are lots of feature of microsoft dynamics crm by using these features you can grow your businesses. Some of them is lead management...

Dynamics Square

How Port Container Services is finetuning lead management with CRM

Read more

Agreed. I see the opposite problem quite often where people are tasked in an organisation just with "be creative" - thus offering no boun...

Dr Fiona Kerr

The great debate: Is data killing creativity?

Read more

By far, this is the best article I've come across so far that has a relevant information regarding the future of marketing. Although the ...

Jayden Chu

​Six ways to prepare for the future of digital marketing

Read more

These are some good ideas. You didn't touch on the overarching goals and results of brand loyalty. This article does a good job at provid...

hgsupport

Four ways to use social media to boost customer loyalty

Read more

This read like a PR PLUG for the agency. Very flowery language for the agency and very little details about the deal or the project.

Digital_Marketer

Why Tourism Victoria decided to go agile

Read more

Latest Podcast

More podcasts

Sign in