CafePress Files For $80 Million IPO

Photo: CafePress

Wait long enough, and everything comes back around.12 years after it was founded, CafePress, an online source for funny customisable t-shirts, mugs, and other items, has filed to go public in a $80 million IPO.

We’re running through the company’s S-1 filing now and business looks pretty good — the company is profitable, and revenue grew last year although net income was down.

It also looks like the company had a nasty slowdown in customers 2009, but has recovered back to 2008 levels.

Here are the basics of the company’s business:

All numbers in millions 2010 2009 2008 Revenue 127.9 103.5 120.4 Gross profit (revenue – COGS) 55.5 45.8 46.0 Net income 2.7 3.3 (2.2) Customers 2.1 1.7 2.1 Number of orders 2.7 2.2 2.6The company’s biggest individual shareholders are cofounders Fred Durham (19% of shares) and Maheesh Jain (17%), and Sequoia holds about 20% — Sequoia’s Doug Leone sits on the company’s board.

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