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Venture capital-backed YuMe eyes $65m IPO

4 Jul 2013

dollar envelope moneyVenture capital-backed video advertising technology group YuMe is looking to raise $65m via an IPO on the New York Stock Exchange.

Citigroup, Deutsche Bank, Barclays, Needham and Company and Piper Jaffray are acting as bookrunners for the listing, according to a document filed with US securities regulators.

The company said it will use proceeds for “general corporate purposes, including working capital” and will also look at acquisitions and investments.

In May 2012 YuMe raised $10m via a Series D round, which was backed by Khosla Ventures, Menlo Ventures and Accel Partners.

Other investors in YuMe include DAG Ventures, BV Capital, Intel Capital, Samsung Venture and Translink Capital.

YuMe posted a 70 per cent increase in revenues to $116.7m last year, swinging to a $6.3m profit from an $11m loss in 2011.

Earlier this week venture capital-backed company Marrone Bio Innovations revealed its intention to list on the Nasdaq exchange.

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