Friday, March 19, 2010

Iron Planet Files For IPO

Pleasanton-based Iron Planet, which operates an online marketplace for heavy equipment, filed for an IPO Thursday evening, saying it is looking to raise $92M in an IPO on the NASDAQ Global Market. The firm says it hopes to list as IRON. The IPO is being underwritten by J.P. Morgan, Deutsche Bank Securities, Cowen and Company, Piper Jaffray, and Needham & Company. Iron Planet is venture backed by Accel Partners, Kleiner Perkins Caufield & Byers, as well as Caterpillar and Komatsu America. Iron Planet reported net income of $12.9M on revenues of $54.67M in 2009.