IPO - Wednesday, June 17, 2009
LogMeIn Sets Date With $100M IPO
The IPOs that are setting the course in these times have not been the high profile names but have been behind the scenes players like OpenTable, Rosetta Stone and Now LogMeIn. Woburn, MA-based LogMeIn was founded in early 2003 and makes remote desktop applications that allow Mac and PC users to control and access their files remotely. They can get their files from another computer or an iPhone or, soon, a Blackberry.
LoMeIn reported net income of $1.5M on revenue of $17.2M in the three months ended March 31, compared to a net loss of $4.2M on revenue of $9.9M in the year-ago period.
Shareholders are led by Prism Venture Partners (23.79%), Polaris Venture Partners (20.99%), Technology Holding Central and Eastern European Funds (15.83%), Integral Capital Partners (8.91%) and Intel Capital (5.43%).
We are excited about this. Good for tech and good for Boston.
Demo of the iPhone App
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