IPO Profile: CreditCards.com

Internet company CreditCards.com (CCRD) is expected to go public this week. The company calls itself "an online credit card marketplace" which offers consumers the opportunity to compare and apply for numerous credit cards that are currently on the market.

All quotations are from the company's most recent S-1 filings with links provided.

CREDITCARDS.COM (CCRD)
Business Overview (from prospectus)

We are a leading online credit card marketplace connecting consumers with multiple credit card issuers, including nine of the ten largest in the United States, based on their credit card transaction volume. According to ocomScore, we attracted an average of approximately 930,000 unique visitors per month to our website during the first nine months of 2007, which is more visitors during such period than any other online marketplace that is focused exclusively on offering credit cards. Through our website, www.creditcards.com, we enable consumers to search for, compare and apply for credit cards and offer credit card issuers an online channel to acquire qualified applicants. Our online marketplace allows credit card issuers to solicit and receive credit card applications online in a manner that we believe is more efficient and cost effective than traditional offline channels.

Offering: 10.7 million shares at $13.00 - $15.00 per share. Net proceeds of approximately $108.2 million will be used to repay debt and for working capital.

Lead Underwriters: Credit Suisse, Citi

Financial Highlights:

Revenues for the nine months ended September 30, 2007 were $44.6 million, an increase of $14.7 million, or 49%, over the nine months ended September 30, 2006... Cost of revenues for the nine months ended September 30, 2007 was $693,000, an increase of $455,000, or 191%, from the nine months ended September 30, 2006... Net income decreased by $12.9 million or 85% for the nine months ended September 30, 2007 as compared to the nine months ended September 30, 2006.

Additional Resources:

• Company website
• Online road show
• E-Commerce Times: 'CreditCards.com Takes Swipe at $185M IPO'
• Red Herring: 'CreditCards.com Files for IPO'
• BloggingStocks: 'CreditCards.com : Looking for an IPO reward'

Comments

[Credit Cards]

No doubt, creditcards.com is a very successful site. They are providing a very good platform for Credit Card Applicants and Issuers. But nowadays they facing a very tough competition from other sites like www.creditexa.com and Creditcardguide.

Apply for Credit Cards