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Online money transfer service Xoom (XOOM) has priced its IPO at $16, above a prior range of...

Online money transfer service Xoom (XOOM) has priced its IPO at $16, above a prior range of $13-$15. That gives Xoom, which is selling 5.2M new shares and 1.1M on behalf of insiders, a valuation of $509M. The company posted 2012 revenue of $80M (+60% Y/Y) and a net loss of $5.8M. Gross sending volume rose 90% to $3.25B. For reference, incumbents Western Union (WU) and MoneyGram (MGI) respectively had 2012 sales of $5.66B and $1.34B. (S-1)
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