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Digital publishing startup Glam Media has reportedly filed documents for an initial public offering, according to a BusinessInsider article that cites anonymous sources familiar with the company.
But don’t bother trying to find any evidence from publicly filed documents with the SEC. The report indicates that Glam filed confidential documents as part of a new secret IPO process that was initially created under the 2012 Jumpstart Our Business Startups Act (JOBS Act). The act specifies that companies with under $1 billion in revenue can begin discussions with the SEC about an IPO before announcing such news publicly.
VentureBeat has reached out to its own sources for more information about Glam Media going public, and we will update this post accordingly if we find out any new information.
Glam is perhaps best known as an advertising/media company primarily focused on women’s interests, but it has since expanded into several other genres, including men’s lifestyle/interests, entertainment, and food. The site claims to bring in over 356 million unique visitors per month across all its properties (including those under the Ning umbrella), and it has a greater audience reach than aging web portal AOL, as VentureBeat reported back in July 2012.
News of Glam filing an IPO have been rumored several times over the last few year. Initially, it was planning to go public in 2012, but the new procedures created in the JOBS Act may have had something to do with the delay.
Founded in 2002, the Brisbane, Calif.-based startup has previously raised $155 million in funding to date from Aeris Capital, Hubert Burda Media, Accel Partners, DAG Ventures, and others.