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 newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Show Comments

Blog Posts

Data has the power to build or burn brands

A brand can be severely wounded by use or misuse of any of its assets and you could say data has the greatest power of all to inflict damage.

Lucy Acheson

Head of data strategy and customer experience, LIDA

Totto and your inorganic future

At Cannes Lions this year we’ve been treated to many artificial intelligence (AI) insights. It’s one of the major discourses of our time.

Richard Brett

CEO, opr

Personas of one and the rise of ‘always there’ marketing

I’ve got some bad news. The ‘always on’ marketing approach that many companies have only just fully implemented is already out of date.

Nigel Roberts

Founding partner and strategy lead, Yell

Carisoprodol is used for treatment of pain.so it has some amount of drug use it carefully . Get its complete usage and prescription from ...

jensons henry

CMO profile: The strategy behind Cash Converters brand and customer experience reboot

Read more

This is very educational content and written well for a change. It's nice to see that some people still understand how to write a quali...

mark Johnson

Digital advertising continues to dominate marketing budgets

Read more

I am a new satisfied customer with the cryptodriven darkwebsolutions company, they helped me with a very efficient crypter for my company...

Yusef

The CX thinking behind Westfield A/NZ's new brand and digital identity

Read more

I enjoyed reading your article. It all starts from creating a persona of your ideal customer. Once you understand the needs then you can ...

Ardie Cash

4 skills needed for a marketer to sit on boards

Read more

A very prestigious list. Cant wait to see who ends up in this years list. Cheers!!

Diganto

CMO50 2018 is now open for submissions

Read more

Latest Podcast

More podcasts

Sign in