IPO News Archive
Money transfer service provider Xoom sets terms for $81 million IPO
Xoom, which provides online consumer-to-consumer international money transfer services, announced terms for its IPO on Friday. The San Francisco, CA-based company plans to raise $81 million by offering 5.8 million shares (19% insider) at a price range of $13 to $15. At the midpoint of the proposed range, Xoom would command a fully diluted market value of $498 million. Xoom, which was founded in 2001 and booked $80 million in sales for the 12 months ended 12/31/2012, plans to list on the NASDAQ under the symbol XOOM. Barclays and Needham & Co. are the joint bookrunners on the deal.