Autotrader.com Marks First Internet IPO Filing Since Facebook's Debut
By Renaissance Capital IPO Research:
AutoTrader.com (ATG), which operates the largest online automotive marketplace, filed on Friday with the SEC to raise up to $300 million in a U.S. initial public offering. The Atlanta, GA-based company, which was founded in 1997, operates under the AutoTrader.com and Kelley Blue Book brands. AutoTrader.com filed back in April 2000, just past the peak of the dot-com bubble, with just $5 million in sales and -$47 million in losses, but subsequently withdrew its registration statement in November 2000.Today, the company looks vastly different than its tech bubble profile. For the 12 months ended March 31, 2012, Autotrader.com generated $1.1 billion in sales, $335 million in adjusted EBITDA and $62 million in net income. The company-- which generates the bulk of its revenue from selling pay-for-placement listing subscriptions to dealers-- saw revenue growth accelerate in 2011, increasing 39% year-over-year compared to a 17% increase in 2010. A large partComplete Story »
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