Monday, May 6, 2013

Marketo Sets IPO Estimates

San Mateo-based online marketing automation software developer Marketo has set the estimated range for its IPO this morning. Marketo said it hopes to offer 5,750,000 of its shares at between $11.00 and $13.00 per share. The firm said it has applied to list as MKTO on the NASDAQ Global Market. Marketo is venture backed by InterWest Partners, Storm Ventures, Mayfield Ventures, Battery Ventures, and others. As part of the deal, Marketo also said that Battery Ventures will purchase 500,000 shares of its common stock at the IPO price, as part of a private placement in the firm.