Waltham’s Care.com sets $80m IPO
Care.com Inc. is planning to raise $80 million from an initial public offering, the online marketplace for caregivers and other personal services disclosed Thursday. The Waltham company had initially filed its IPO plans under a new confidential system administered by the Securities and Exchange Commission, but those plans are now publicly available.
The company intends to be traded on the New York Stock Exchange, but has not yet selected its ticker symbol or price range for its public offering.
In the filing, Care.com reported revenue of $59 million for the nine-month period ended in September, an 81 percent increase over the same period last year. The company lost $24.6 million in the first nine months of 2013.
Founded in 2006, Care.com has grown to more than 200 employees at its Waltham headquarters and some 400 worldwide. It is one of the area's fastest growing Web companies and is backed by local venture capital firm Matrix Partners, which owns 22 percent of the company's stock. Overall, Care.com has raised $111 million from venture investors.
The company's planned public debut comes as the stock market remains hungry for new issues. So far this year, 13 other Massachusetts companies have gone public, compared with nine in 2012.