28 July 2014

Dotcom survivor Yodlee files for IPO

01 July 2014  |  3443 views  |  1 NYSE 1

Dotcom boom survivor Yodlee is finally ready to go public, fifteen years after makingg its debut as a novel screen-scraping service for bank account aggregation.

The company, which counts 750 financial firms in over ten countries among its client base, says it hopes to raise $75 million from the IPO.

Although it survived the dotcom carnage, Yodlee has had only one profitable year in its 15-year history. For full-year 2013, the company posted a loss of $1.2 million and in Q1 2014 it was $0.6 million in the red on revenues of $16.7 million.

The flotation will go some way to rewarding Yodlee's biggest stakeholder Warburg Pincus (37%) for its perseverance over the years. Other shareholders include Accel Partners, Bank of America, Institutional Venture Partners and ACI Worldwide, which has a 13% stake.

Comments: (1)

Alexander Peschkoff - TEDIPAY - London | 01 July, 2014, 11:31

Yodlee offers a great service which can be applied to many interesting use cases. Well done! Kudos for not giving up.

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