Motricity files for $250 million IPO

Mobile content solutions provider Motricity has filed for an initial public offering to raise up to $250 million--according to the firm's Securities and Exchange Commission filing, the cash is earmarked to provide working capital, as well as capital expenditures and acquisitions. Motricity's mCore platform offers mobile operators tools to manage their mobile content, web, messaging and marketing efforts--per the SEC filing, the company provides mobile data services to more than 30 million subscribers worldwide. The filing also notes that Motricity reported sales of $88.7 million and a loss of $28.8 million over the first nine months of 2009, following sales $103.6 million and a net loss of $100.5 million in 2008.

Motricity first indicated [1] plans to file for an IPO in mid-2009, telling FierceMobileContent that as the industry continues its evolution towards a more open device model, there is going to be a big opportunity for companies that can figure out how to deliver targeted personalized content and monetize it without alienating the customer. Chief strategy and marketing officer Jim Ryan said that what may make Motricity different from other firms preaching the same gospel is that Motricity has access to a lot of the necessary data to make the customer experience personalized and targeted: "We have a tremendous amount of data passing through our infrastructure," Ryan said, adding that Motricity will work with carriers to aggregate that data in a secure manner and contending that the key to success is letting customers control their own information. "The only person controlling the end user is the end user," Ryan said.

For more on the Motricity filing:
-read this Seattle Times article [2]

Related articles:
AT&T replacing Motricity [3] with Amdocs?
Motricity [4] sells smartphone and D2C businesses