UK biz email slinger Mimecast files for $100m IPO in US

Mimecast filed for an initial public offering on Wall Street on Friday and said it hoped to raise up to $100m (£64m). The London-based email security vendor, which has 14,500 biz customers on its books, said that it planned to list under the symbol "MIME" on the Nasdaq exchange. For its most recent quarter, Mimecast – which …

[Electron Shepherd]

The world's gone IPO mad...

Sales of $33M, losses of $2.2M - how can a company like that be worth $1Bn?

[Naselus]

Re: The world's gone IPO mad...

Because most British firms with $33m in sales would be losing 4-5 times that. Mimecast is a real British success story.

[Anonymous Coward]

Presumably they expect all this "Safe Harbor" stuff to just go away - either that or their customer base is primarily US-based anyway.

[Dabooka]

Either I misread the article....

or if '$1bn (£650,000)' is correct, I'm booking flights to New York ASAP

[midcapwarrior]

unimpressive growth rate

Usually money losers can point to 3 digit growth figures to justify valuation.

24% and losing money is not impressive.

Either grow faster or lose faster but do something to stand out.

[Anonymous Coward]

Interesting ...

they've just splashed out a small fortune on SIEM training for some staff ...