LogMeIn: Ready for an IPO takeoff?

Focused mostly on small and medium size businesses, LogMeIn allows for remote connectivity services, such as for file sharing, backup services and so on. By being web-based, there are no costly setup costs or consulting fees. What's more, LogMeIn's services are fairly easy to use.

To gain customers, there is a free version. Of course, if users want premium features, they can upgrade to various paid versions.

In fact, over the past year, premium accounts increased from 122,000 to 188,000 (there are 22.1 million registered users). LogMeIn sells its services on a subscription basis that range from $30 to $1,900 per year.

All in all, it looks like the recession is having little impact on the company. From 2007 to 2008, revenues spiked from $26.9 million to $51.7 million.

The IPO will likely hit the markets in a couple weeks. The proposed ticker is LOGM and you can get the prospectus at the SEC's website.

Tom Taulli is the author of various books, including The Complete M&A Handbook and the founder of BizEquity, a free online business valuation tool for small businesses. You can reach him at his personal blog.