Ever get an automated message on the phone? It's actually a growing industry and is called automated voice messaging, or AVM.A leader in the space is SoundBite Communications and the company has filed for its IPO this week.
SoundBite's system is completely Web-based. Thus, customers do not have to invest in IT personnel, hardware, servers and so on. Instead, they pay on a per-message or a per-minute basis.
With the service, customers can handle outbound communications like collections, customer care and marketing pitches.
In fact, SoundBite's system delivered nearly one billion calls in 2006. And revenues have been ramping – going from $7.8 million in 2004 to $29.1 million in last year. However, the company lost $160,000.
Based on a variety of research studies, the AVM market is forecasted to grow from $370 million in 2005 to $1.4 billion in 2010.
The underwriters for the IPO include Cowen (NASDAQ: COWN) and Thomas Weisel Partners (NASDAQ: TWPG). The proposed ticker symbol is SDBT.
You can also find the IPO filing at the SEC website.
Tom Taulli is the author of various books, including the Complete M&A Handbook and the EDGAR-Online Guide to Decoding Financial Statements.
Closing Bell: Economic Catapult for Thanksgiving & Black Friday (WMT, TGT, GRMN, GOOG, MSFT)
Deere up on Q4 earnings performance
Reid Hoffman: LinkedIn will go public (at some point)
