VC-Backed Marketo to Sell 6 Mln Shares in Secondary Offering

Marketo said Friday that it is selling 6,000,000 shares of its stock in a secondary public offering. According to the company, proceeds will be used for “general corporate purposes.” Goldman, Sachs & Co. and Credit Suisse Securities are the underwriters. Wells Fargo Securities, Canaccord Genuity, Raymond James & Associates and JMP Securities are serving as co-managers. Based in San Mateo, Calif., Marketo, which is backed by Battery Ventures, Institutional Venture Partners, InterWest Partners, Mayfield Fund and Storm Ventures, is a provider of cloud-based marketing software.


SAN MATEO, Calif., Aug. 30, 2013 /PRNewswire/ — Marketo (NASDAQ: MKTO), the provider of a leading cloud-based marketing software platform, today announced that it has filed a registration statement with the Securities and Exchange Commission for a proposed public offering of 6,000,000 shares of its common stock.
The offering is expected to consist of approximately 5,300,000 shares from certain existing stockholders. In addition, Marketo expects to offer approximately 700,000 shares as well as any shares to be sold to the underwriters pursuant to their option to purchase additional shares.
The net proceeds of the Marketo portion of the offering will be used to fund general corporate purposes, including working capital. Marketo will not receive any proceeds from the sale of the shares by the selling stockholders.
Goldman, Sachs & Co. and Credit Suisse Securities (USA) LLC are acting as lead book-running managers for the offering. Wells Fargo Securities, LLC, Canaccord Genuity Inc., Raymond James & Associates, Inc. and JMP Securities LLC are acting as co-managers.