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

Is your content marketing missing the mark?

Does it ever seem like the content you create falls flat on its face or that the leads you’re generating aren’t worth following up?

Dan Ratner

managing director, uberbrand

​ Creating a purpose-driven brand

So you want to be a brand with purpose. But what does it actually mean to build a brand with real meaning?

Paul Chappell

Partner and managing director, Brand + Story

Customer experience crisis: Proactively mitigating the risk of broken promises

Last Friday, three weeks after United Airline’s spectacular customer experience disaster, customers received a letter from the company’s CEO, Oscar Munoz.

Very rarely have I come across views so true. There are so many gems in this article, reflective of reality, onec can read it again and a...

Shyam Mishra

ANZ digital chief: Tackle the ‘frozen middle’ of your organisation or face irrelevancy

Read more

STOP STEALING BUISNESS CLASS TOILETS from A380, new 787's and A330's!!!!Thats what you call customer experience ONE toilet for all Busine...

Joe

Qantas CMO: What it's taking to evolve our customer experience

Read more

Dare i suggest that a "CEO" role in a peak industry body like Think Brink is not really much of a leap from CMO because it is also a mark...

Sventana

CMO to CEO: Think Brick chief reveals what it takes to make the jump

Read more

Grate post, thanks for the post.No matter what your business is, if you do no not rank among the top most search results of Google, Yahoo...

Rahul

Image intelligence:10 must-see infographics for marketers

Read more

Thank you Shane Blandford for carrying my Smarketing vision into KM !

Peter Strohkorb

​CMO Interview: Why aligning sales and marketing drives innovation at Konica Minolta

Read more

Latest Podcast

More podcasts

Sign in