Indianapolis—Email marketing company ExactTarget Inc. plans to raise $100 million in an initial public offering and use the funds for general corporate purposes, such as expanding its number of offices and its sales and marketing teams.
ExactTarget had hoped to go public in 2009 but, as the economy worsened, withdrew its IPO filing, opting instead to raise private venture capital. The company's most recent infusion of $30 million in April pushed its total venture funding to $208 million.
One of ExactTarget's major competitors, Responsys Inc., went public in April, raising about $80 million. Both companies have been expanding aggressively.