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Web 2.0 - Friday, May 9, 2008

Site Performance Management's Gomez Files $80.5M IPO

Lexington, MA's Gomez has filed for an $80.5M IPO. It plans to trade on the Nasdaq with the ticker symbol GOMZ, with Credit Suisse and Deutsche Bank Securities as underwriters.

Say the word Gomez and we tend to think of the patriarch of The Adams Family. But this is a nine-year-old Web analytics company that sells through an on-demand model.

Gomez's annual revenue has climbed from $14.8M in 2005 to $21.7M in 2006 to $32.6M in 2007. During the same three-year period, its operating income rose from $231Kin 2005 to $1.3M in 2006 before tumbling to a loss of almost $1.5M last year, the filing said. Gomez customers include Yahoo, Home Depot, JPMorgan Chase, as well as 13 of the 20 most visited US websites.

All that sounds great but the financials leave a sour taste and unless they have a special story to tell we think Wall Street will pass.

The company raised over $66M between 1999 and 2004, with shareholders including:
Dolphin Equity Partners, AdAstra, Doughty Hanson & Co. and ABS Ventures.

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