WebSideStory Files for $57.5 Million IPO

WebSideStory files for $57.5 million IPO. NEW YORK – Web site analytics company WebSideStory Inc. added its name Thursday to the growing list of tech companies planning to go public, filing registration papers to raise up to $57.5 million through an IPO (initial public offering). [InfoWorld: Top News]

“Last year it had a net loss of $1.9 million on revenue of $16.4 million. The company squeaked into the black last quarter, turning a profit of $141,000 on revenue of $5 million.” (InfoWorld)

Omniture, which is probably WebSideStory’s leading competitor is a Utah-based company which�raised $14.5 million recently from Hummer Winblad and other investors. The Salt Lake Tribune reported Omniture had revenues�of $8 million�last year and is shooting for�$20 million in 2004, which puts it right on the heels of WebSideStory with it’s recent $5 million quarter.

Mistakenly, however, the Tribune also reported that Josh James and John Pestana sold MyComputer.com for $57 million in 2000. They probably learned that�from the Utah Technology Report.�What that report didn’t say is that the sale to NetObjects�did not actually close. Oops. That’s why I subscribe to the Deseret News. (Just kidding)

Actually, Dave Politis’ article in the Deseret News was far better, but it was also slightly inaccurate. Omniture has had a connection with Hummer Winblad for a long time through Eliot Jacobsen, who was until recently COO of Omniture. But I’m sure the John Mellor connection also came in handy.

Omniture is an outstanding company with superb web analytics services. I’ve helped several companies implement Omniture SiteCatalyst and have found the service extremely powerful. When they landed MyFamily.com as a client, they actually used one of our best internally generated ideas to make their service even better.

With Omniture’s momentum in landing big clients and likely its stronger revenue growth, it will be interesting to see if�WebSideStory can actually make it out this time around. (They pulled their previous IPO in about October 2000).

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