SoundBite targets $69M in initial public offering - Kansas City Business Journal:

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The fast-growing company, which helpds bill collectors and marketer s make automatedphone calls, revealed both plans in an Aprilk 16 filing with the Securities and Exchange Commission. In the SoundBite said it hopes to raise upto $69 millioj in the IPO and trade on the Nasdaq under the ticker symbol SDBT. The company also says it is searchingb for new office space and hopee to move in the seconr half ofthe year. Bob the company's chief operating officer, said SoundBite is currently leasing 23,000 square feet in two buildingsw in Burlington but would prefere to be inone location.
Leahy said the company is lookiny for space in Burlington and otherdnearby towns, so as not to pose too largse a disruption for current workers. "Our employeesw are our single largest asset,'' Leahy said. As of SoundBite had 125 employees, including 113 in but needs additional space to In addition, the SEC filing for the firs t time provides a wealth of financial detailds about the company, which has mostly flowbn under the radar. According to the document, SoundBite took in $29 millio n in revenue last year, nearlyu double its 2005 sales and quadruplre its2004 tally. Though SoundBite earne d $1.2 million in 2005, it lost $123,00o in 2006 as the company expanded.
Leahy said the companyt could not discuss the figures while it is inthe SEC-mandatexd "quiet period" for companie s going public. SoundBite focuses on a growin niche: "automated voice messaging" services. Specifically, the compant helps call centers automatically placecallz (screening out answering machines), dial customerx and play prerecorded voice messages or connect customers to an automatedc phone attendant.
Though many peoples say they prefer talking to a live SoundBite says an automated system can handlwe many types of calls more such as asking customers to reneew subscriptions or warning them about an overdue bill, The company says more than 200 subscriber have used its service since January 2006. Two and , each accounted for more than 10 percenof SoundBite's revenue in 2006. SoundBite, whichh has raised more than $30 million from investors, is backesd by , , and of New England, according to the Peter Shields, a former executive at and , has served as the company'es CEO since May 2004.
Last fall, SoundBite accused threse former employees of violating noncompete and nondisclosure agreementsz after they joined a debt collectionn companyin Newton, The lawsuit was settled six weeks ago. An attorneg for Credit Control Services declined to give detaila onthe deal.