Convio Plans IPO
Updated · Jan 26, 2010
The CRM provider is seeking to raise $57.5 million for working capital, to pay off debt, and to make acquisitions.
Nonprofit CRM provider Convio has filed for an initial public offering, with the aim of raising $57.5 million.
"The company plans to use the money raised in the IPO for working capital, and to possibly pay off debt and make acquisitions," according to The NonProfit Times.
"Convio serves approximately 1,300 nonprofit clients that raised $920 million last year and delivered 3.8 billion emails," the article states. "Among those clients are the American Red Cross, American Cancer Society, World Wildlife Fund, People for the Ethical Treatment of Animals, and Planned Parenthood Federation of America."