Glam Media Is Picking Bankers For An IPO

Yeah, baby!

Glam Media is listening to the sales pitches of about 14 Wall Street banks in preparation for an IPO, a source familiar with the situation says.Bank of America, JP Morgan, Citi, Goldman Sachs, Morgan Stanley, and others are vying for the coveted “book-running” lead position.

The company hasn’t made any decisions yet, our source says, though Bank of America (Merrill) had an early edge.  But Glam will eventually pick 5-6 of these firms to underwrite its deal, which will likely come early next year.

Glam generated something in the neighbourhood of $75 million of gross revenue last year and is growing about 30% a year. CEO Samir Arora and his management and investors are no doubt eager to cash in on the spectacular IPO success of Demand Media (DMD), which is now valued at $1.8 billion.

Our source also says that Wall Street went absolutely giddy with excitement when AOL bought Huffington Post a few weeks ago and that bankers are now pitching every M&A deal they can think of.

See Also: The 11 Huge Tech IPOs Coming This Year

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.

Tagged In

google ipos media sai-us