In early 2008, online marketing firm Eyeblaster filed for an IPO. Of course, it was horrible timing as the financial system melted down and the U.S. economy plunged into a major recession.

True, the economic system has since stabilized. But is the market ready for an Eyeblaster IPO?

Well, the company has refiled for an offering, hoping to raise $115 million.

Eyeblaster faces tough competitors, such as Google (NASDAQ: GOOG) and Microsoft (NASDAQ: MSFT). Even so, the company has done quite well.

Basically, Eyeblaster is a provider of online campaign management services for advertising agencies and advertisers. The software is comprehensive, covering the web, mobile, video and so on. And now the company has filed to go public.

It definitely helps that Eyeblaster has been growing at an explosive rate. From 2002 to 2007, the customer base spiked 245 to 979. And revenues have also been stellar, going from $27.7 million in 2006 to $44.7 million in 2007. In fact, Eyeblaster was able to post net income of $3.3 million.

True, the IPO market has been terrible lately. But it will be a few months before Eyeblaster hits the market. With its strong fundamentals, the offering definitely has a chance of attracting Wall Street's interest.

The underwriters on the deal include Lehman Brothers (NYSE: LEH) and Deutsche Bank Securities. You can review the prospectus at SECFilings.com.

Tom Taulli is the author of various books, including The Complete M&A Handbook and The Edgar Online Guide to Decoding Financial Statements. He also operates DealProfiles.com.