Impinj Files for $100M IPO

Seattle-based Impinj, a 10-year-old RFID tech firm founded by University of Washington professor Chris Diorio, filed registration papers for an initial public offering today. The company said it was seeking up to $100 million. Impinj’s numbers were a little up and down in the past few years: The company went from about $25 million in revenue in 2008 to about $21 million in 2009, before bouncing back to about $32 million last year. Impinj also isn’t profitable, showing a loss of about $11 million for 2010. The company, a survivor of the post dot-com hype around use of RFID for supply-chain tracking, is backed by a number of VC firms, including Madrona Venture Group, Samsung Ventures, and Unilever Technology Ventures. Underwriters for the IPO are listed as Morgan Stanley and J.P. Morgan, with Needham & Co., Pacific Crest Securities and Raymond James.

Author: Curt Woodward

Curt covered technology and innovation in the Boston area for Xconomy. He previously worked in Xconomy’s Seattle bureau and continued some coverage of Seattle-area tech companies, including Amazon and Microsoft. Curt joined Xconomy in February 2011 after nearly nine years with The Associated Press, the world's largest news organization. He worked in three states and covered a wide variety of beats for the AP, including business, law, politics, government, and general mayhem. A native Washingtonian, Curt earned a bachelor's degree in journalism from Western Washington University in Bellingham, WA. As a past president of the state's Capitol Correspondents Association, he led efforts to expand statehouse press credentialing to online news outlets for the first time.