An IPO Xooming Too High
On Friday, the IPO for the cash-transfer service provider Xoom, Inc. ( XOOM ) soared 59% after being priced above the initial range. After reading the final prospectus , the company harkens back to the technology IPOs of the late 1990s when a stock had as much hope as hype. The company is a global online money transfer provider, focused on helping consumers send money in a secure, fast, and cost-effective way using their mobile phone, tablet or computer. Xoom has 750,00 active customers that sent more than $3.2B to family and friends in 30 countries worldwide during 2012. With a revenue base of $80M, Xoom follows in the footsteps of the recent ExOne ( XONE ) IPO (see Does The ExOne IPO Offer Any Value? ) where the company was substantially smaller than companies going public over the last few years. Read the full article at Seeking Alpha. Disclosure: Long GSVC. Please review the disclaimer page for more details.