Bellevue, WA-based Motricity, a mobile software firm, has filed a form S-1 with the SEC, saying it plans to sell up to $250 million in an initial public offering. The company generated more than $100 million in revenue in 2008, and $117.1 million in the 12 months ending on September 30, 2009, but it is not profitable, according to the filing. Motricity was founded in 2001 and is backed by more than $400 million in venture funding from Carl Icahn, Technology Crossover Ventures, New Enterprise Associates, Advanced Equities, Intel Capital, and others. The company moved from North Carolina to Bellevue in March 2008, presumably to be closer to wireless customers like T-Mobile.
Author: Gregory T. Huang
Greg is a veteran journalist who has covered a wide range of science, technology, and business. As former editor in chief, he overaw daily news, features, and events across Xconomy's national network. Before joining Xconomy, he was a features editor at New Scientist magazine, where he edited and wrote articles on physics, technology, and neuroscience. Previously he was senior writer at Technology Review, where he reported on emerging technologies, R&D, and advances in computing, robotics, and applied physics. His writing has also appeared in Wired, Nature, and The Atlantic Monthly’s website. He was named a New York Times professional fellow in 2003.
Greg is the co-author of Guanxi (Simon & Schuster, 2006), about Microsoft in China and the global competition for talent and technology. Before becoming a journalist, he did research at MIT’s Artificial Intelligence Lab. He has published 20 papers in scientific journals and conferences and spoken on innovation at Adobe, Amazon, eBay, Google, HP, Microsoft, Yahoo, and other organizations. He has a Master’s and Ph.D. in electrical engineering and computer science from MIT, and a B.S. in electrical engineering from the University of Illinois, Urbana-Champaign.
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