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IPO - Tuesday, April 15, 2008

Map Biz DigitalGlobe Files $250M IPO

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We had just been explaining to a friend who gave up on the tech business a decade ago that the tech IPO window hasn't moved open an inch. So it was great to see today that DigitalGlobe has filed an IPO. Not only that but its a very large one at $250M on the NYSE.

The company uses two satellites to produce high-rez images of the earth. The images have been incorporated into Google Earth and Microsoft Virtual Earth.

DigitalGlobe was founded back in 1994 as EarthWatch. It reported net income of $95.8M last year, up from $9.2M in 2006. During the same period, revenue climbed to $151.7M from $106.8M.

The company's early days were not auspicious. It has launched four satellites since its inception. The first, launched in 1997, suffered a power failure after four days. A second failed to achieve orbit in 2000. DigitalGlobe’s investors include Ball Aerospace and Technologies., Hitachi, Morgan Stanley and Telespazio/Eurimage Investment.

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