Everyday Health Inc., which operates more than two dozen consumer-oriented health content Web sites, has filed a Form S-1 with the Securities and Exchange Commission to conduct an initial public offering of stock.
The Brooklyn-based company, which recently changed its name from Waterfront Media Inc., has experienced strong revenue growth and heavy losses since inception in 2002. It hopes to raise up to $100 million before expenses from the IPO, with unspecified net proceeds going to the vendor and selling private shareholders.
The number of shares being offered and the expected price range has not been determined. Managers of the IPO include Goldman Sachs & Co., J.P. Morgan Securities Inc., Jefferies & Company Inc. and Needham & Company LLC.
The company's portfolio of Web sites includes EverydayHealth.com, RevolutionHealth.com, Drugstore.com, CarePages.com, and WhatToExpect.com, among others. The sites combined have 38 million registered consumers and attract an average of 25 million unique visitors a month. Revenues primarily come from advertising, sponsorships, and the sale and licensing of content.
Everyday Health in 2008 had a net loss of $13.2 million on revenue of $69.4 million, up 47% from 2007, which was up 42% from 2006. The company during the first nine months of 2009 had a net loss of $20.5 million on revenue of $61.5 million. As of Sept. 30, the company had an accumulated loss of $59.5 million. "We have incurred significant losses since our inception and expect to incur losses in the future," the company states in its S-1 filing.
Register or login for access to this item and much more
All Health Data Management content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access