MobileIron, a leading player in the growing mobile device management (MDM) software space, has filed for a $100M IPO under the symbol MOBL. The underwriters: Morgan Stanley, Goldman, Deutsche, Barclays, Raymond James, Nomura, and Stifel.
Bloomberg reported on MobileIron's IPO plans back in February. Its sources provided a broad potential valuation range of $1B-$2B.
MobileIron's software is used to manage and secure mobile devices, apps, and docs for 6K+ customers (inc. 350 Global 2000 firms). The company benefits from the BYOD trend, and from broader adoption of business-use smartphones/tablets - IDC expects 280M shipments in 2014.
MobileIron had 2013 revenue of $105.6M (+158% Y/Y), and a net loss of $32.5M. Sales/marketing spend totaled $68.3M (65% of revenue), and R&D spend $36.4M. Free cash flow was -$27.8M.