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Friday, Jan 11
Online international money transfer service Xoom is filing for a $50M IPO under the ticker XOOM....
Online international money transfer service Xoom is filing for a $50M IPO under the ticker XOOM. Xoom, which competes most directly with Western Union (WU) and Moneygram (MGI), is stocked with ex-PayPal execs and saw $3.25B worth of gross sending volume in 2012 (up over 3x Y/Y). It generated revenue of $57.8M (+68% Y/Y) over the first 9 months of 2012, and a net loss of $4.4M. Xoom's filing comes at a time when PayPal and Moneygram are drawing closer. (S-1)