IPO FILING: Varolii

By Douglas A. McIntyre Published Sep 14, 8:10AM EDT

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Varolii Corp. has filed to come public via an IPO and said it plans to sell up to $86.25 million in stock under the stock ticker of "VRLI" on NASDAQ, although this dollar amount is nominal and just for filing purposes. Lehman Brothers and JP Morgan Securities are listed as the joint book-runners; and co-managers are William Blair, JMP Securities and RBC Capital Markets.

This is a Seattle-based software company which allows businesses to communicate with customers and groups over multiple channels including voice, text messages, email, and online notifications. It even uses pagers and fax, if anyone still uses these for major alerts anymore. Varolii’s on-demand hosted platform handles more than 3.5 million notifications during each business day. Here are some of the features notifications:

flight cancellation notices,
medicine/medical notifications,
customer notifications,
scheduling of service calls,
credit card fraud detection alerts,
and the beloved bill payment reminders.

For the six months ended June 30, the company posted revenue of roughly $31.6 million, up about 40% from the $23.2 million in the same 2006 period; and the company showed that it had slightly narrowed losses to $3.2 million, from $3.3 million. Some of the company’s key customers include Alaska Air, Dell, Delta, Deutsche Bank, Time Warner Cable, UPS.

Jon C. Ogg
September 14, 2007

About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.