Varolii Corp. has filed to come public via an IPO and said it plans to sell up to $86.25 million in stock under the stock ticker of "VRLI" on NASDAQ, although this dollar amount is nominal and just for filing purposes. Lehman Brothers and JP Morgan Securities are listed as the joint book-runners; and co-managers are William Blair, JMP Securities and RBC Capital Markets.
This is a Seattle-based software company which allows businesses to communicate with customers and groups over multiple channels including voice, text messages, email, and online notifications. It even uses pagers and fax, if anyone still uses these for major alerts anymore. Varolii’s on-demand hosted platform handles more than 3.5 million notifications during each business day. Here are some of the features notifications:
- flight cancellation notices,
- medicine/medical notifications,
- customer notifications,
- scheduling of service calls,
- credit card fraud detection alerts,
- and the beloved bill payment reminders.
For the six months ended June 30, the company posted revenue of roughly $31.6 million, up about 40% from the $23.2 million in the same 2006 period; and the company showed that it had slightly narrowed losses to $3.2 million, from $3.3 million. Some of the company’s key customers include Alaska Air, Dell, Delta, Deutsche Bank, Time Warner Cable, UPS.
Jon C. Ogg
September 14, 2007