It's been a long road for LogMeIn, which develops web-based business software. The company filed for an IPO back in January 2008. Of course, since then the financial system went haywire.
But, things are getting back on track. For example, this week LogMeIn actually set the initial terms for its public offering: a price range of $14-$16 for 6.67 million shares.
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
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