Everyday Health Files For IPO, Again

2014-03-02_22-10-06

Everyday Health announces that it has filed for an initial public offering valued at $115 million. Everyday Health was launched in 2002 and has received VC funding from Foundation Capital, NeoCarta Ventures, Revolution, Rho Ventures, Scale Venture Partners, and Technology Crossover Ventures all listed as investors. It’s last major funding round was a $20 million round in 2010 that was led by Technology Crossover Ventures and came with an option to increase the investment to $50 million. Prior to that, Everyday Health closed a $25 million Series D in 2007.

The company’s S-1 filing explains “We combine premier digital content from leading health brands with sophisticated data and analytics technology to provide a highly personalized and differentiated content experience to our users.”

Everyday Health presides over 25 health and fitness websites and 26 mHealth apps, including Everyday Health, MedPage Today, What To Expect, and the online health content at Mayo Clinic. On its website, Everyday Health claims to have reached 43 million consumers and 500,000 healthcare professionals, including one-third of all U.S. physicians during 2013. Their apps, which include South Beach Diet and various Jillian Michaels products, have been downloaded 14 million times, while their combined website traffic nets an average five million newly registered users every year. The company also runs seven YouTube channels and an ABC television series.

This is not Everyday Health’s first attempt at an IPO. In 2010, the company filed for a $100 million IPO which sat from March to November before the company scrapped the plans and took on additional private financing instead.

In 2012, the company bought a social media marketing firm called EQAL for $12.5 million. This continued longstanding history of mergers and acquisitions in the company’s history that helped it build its large health media presence.

Financially, Everyday Health has struggled to monetize its business and reach profitability. The S-1 filing states “We have accumulated significant losses since our inception. We generated revenues of $155.9 million and recorded net losses of $18.2 million in the year ended December 31, 2013. As of December 31, 2013, our accumulated deficit was $123.7 million.” The company’s deficit has hovered at around $15 million for each of the past five years with little growth, but its revenue has grown 72 percent over that same period, from $90 million in 2009 to $155 million in 2013.

Everyday Health will trade on the New York Stock Exchange under the ticker EVDY.


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