Constant Contact Prices IPO

Constant Contact Inc., a Waltham, Mass.-based provider of direct marketing email software, raised $107.2 million via its IPO. The company priced 6.7 million common shares at $16 per share (above $12-$14 range), which gave it an initial market cap of approximately $433 million. It will trade on the Nasdaq under ticker symbol CTCT, while CIBC World Markets and Thomas Weisel Partners served as co-lead underwriters.


Constant Contact had raised $38.8 million in VC funding from Morgan Stanley Dean Witter Venture Partners (21.87% pre-IPO stake), Commonwealth Capital Ventures (15.35%), Hudson Venture Partners (14.16%), Greylock Partners (14.16%), Longworth Venture Partners (9.79%), Saturn Capital and VeriSign.