Online Ad Firm Eyeblaster Files $115M IPO

Eyeblaster, which makes software to manage online advertising campaigns, has filed for an IPO on the Nasdaq and will list under the ticker symbol “EYEB.” The New York-based company, with 221 employees, indicated in its prospectus it intends to raise $115 million in the offering, which it will use for general corporate purposes and to expand its customer base of agency clients. Eyeblaster’s S-2 gives a pretty concise synopsis of the challenge it faces in the marketplace:

We face significant and increasing competition from Google (GOOG) and Microsoft (MSFT) as a result of their pending and recent acquisitions of our primary competitors, DoubleClick and aQuantive, respectively, and may not be able to compete successfully with such powerful competitors.

Lehman Brothers and Deutsche Bank Securities are serving as the IPO’s lead underwriters. UBS Securities and Pacific Crest Securities are also underwriting the offering.

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