ReachLocal Files $100M IPO

ReachLocal, which offers online marketing and reporting solutions to help small and medium-sized businesses acquire and retain customers, filed on Tuesday with the SEC to raise up to $100 million in an initial public offering. The online advertising company combines advanced technology and a digitally sophisticated sales force to provide SMBs with a simple and cost-effective marketing strategy. The Woodland Hills, CA-based company was founded in 2003 and booked $186 million in sales over the last 12 months. J.P. Morgan, BofA Merrill Lynch are the lead underwriters on the deal. Pricing terms for the IPO as well as its expected listing exchange and ticker symbol were not disclosed.