Wednesday, December 9, 2009

Financial Engines Files For IPO

Palo Alto-based Financial Engines, a developer of an online service for providing independent financial advice on mutual fund and other investment portfolios, filed for an IPO Wednesday morning, saying it is looking to raised up to $100M in an IPO on the Nasdaq Global Market. The firm is looking to trade as FNGN. The IPO is being underwritten by Goldman, Sachs & Co., UBS Investment Bank, Piper Jaffray, and Cowen and Company. The company is venture backed by Foundation Capital, New Enterprise Associates, Oak Hill Capital, and others. The firm said it had a net loss of $3.6M on revenues of $71.27M in 2008, and net income of $1.6M on revenues of $58.84M in the first nine months of 2009.