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
cmo-xs-promo

Latest Videos

More Videos

who wants to date me I am 9 years old and i am a boy

Jeremy Hawkins

Sink a sub gaming experience signals Subway's renewed brand push

Read more

Great read. I agree that it should be a perfect balance between interacting with your customers and knowing your brand. As a business, yo...

Caroline Scott

7 ways CMOs can improve their customer engagement game

Read more

Very true. Team development helps improve collaboration among the team members. I was able to improve my team's collaboration skills by t...

Quent Sinder

Why empowering others can help make you a great leader

Read more

CRM is a very good software that can help you succeed in your business. In my company, this system has allowed me to improve customer rel...

Anna Janicka

Sensis rebrands to Thryv and brings business software to Australian SMBs

Read more

AI Leasing Assistants have finally arrived for the multifamily industry. With so many to choose from it can be hard to figure out which i...

Alice Labs Pte. Ltd.

CMO's top 8 martech stories for the week - 6 May 2021

Read more

Blog Posts

Unboxing 101 - How savvy influencer engagement can build a brand

The humble unboxing video is a powerful tool. Correctly executed, it harnesses consumer fandom, viral authenticity and brand design magic to deliver a high-impact message to a tightly targeted cohort of consumers.

Gali Arnon

Chief marketing officer, Fiverr

​Power to the people

Purpose is the ultimate statement of intent for many organisations. Why are we here? What are we trying to achieve?

Rich Curtis

CEO, FutureBrand A/NZ

The playbook to develop strategic brand moats

Warren Buffet is an unlikely ally for marketers. But his belief businesses need strategic moats that increase their value in the market while acting as barriers to competitors can offer marketers a new playbook for brand building and driving growth.

Fabian Di Marco

Founder and managing director, Tzu & Co

Sign in