Active.com Files With SEC For IPO Worth Up To $150M
Active.com, the San Diego-based developer of online participatory sports content and event registration services, has filed with the U.S. Securities & Exchange Commission for an IPO worth up to $150M. The IPO funds are aimed primarily at retiring current debt and funding future corporate acquisitions. The Active.com SEC filing reported revenue of $218M and a net loss of $18.2M for the nine months ended Sept. 30, 2010. The revenue is up 16% and the net loss is down 24% from the comparable period in '09. ESPN and related entities are currently the largest shareholders in Active.com, holding 22.4% of company equity.
Active.com execs told SportsBusiness Journal last spring the company was strongly considering an IPO as a means to draw a less-expensive source of capital to continue building the company.