Friday, May 11, 2012

LegalZoom Files For IPO

Glendale-based online legal documents marketplace LegalZoom filed for an IPO Friday, saying that it is looking to raise up to $120M on the New York Stock Exchange as "LGZ". The firm's IPO is being underwritten by Morgan Stanley, BofA Merrill Lynch, Stifel Nicolaus Weisel, RBC Capital Markets, William Blair, and Montgomery & Co. The firm is venture backed by Polaris Venture Partners (35.1 percent ownership), Insitutional Venture Partners (14.7 percent), and Kleiner Perkins Caufield & Byers (6.4 percent). LegalZoom reported net income of $12.1M on revenues of $156.0M for its year ended December 31, 2011.

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