Thursday, June 29, 2006

ShutterFly Files For IPO

Redwood City-based ShutterFly filed for an IPO this morning, saying that it is looking to raise up to $92M in an IPO on the Nasdaq. ShutterFly, which provides an online photo service that allows people to upload, print, and share their photos, reported it earned $28.9M on revenues of $83.9M in 2005. The company reported it lost $1.6M on $16.8M in revenues for the first quarter. The IPO is being underwritten by Goldman, Sachs & Co., JP Morgan, Piper Jaffray, and Jeffries & Company. ShutterFly has applied for the symbol "SFLY" on the Nasdaq. ShutterFly is backed by Mohr, davidow, Sutter Hill, and others.