Interwoven Inc, a Sunnyvale, California web content management software provider, has filed for an initial public offering on Nasdaq. The company hopes to raise $50m from selling 3 million shares, which should value the firm at about $500m. Last year, Interwoven recorded revenue of $4m and it expects to book $9m this year.
Interwoven offers tools and services to companies developing e-commerce web sites, as well as customer relationship management systems and supply chain management systems. Its TeamSite development tools for Sun Solaris and Windows NT automatically pull content from databases and file systems for distribution on the web, an approach that Interwoven claims is faster than the database-centric approaches of rivals such as Inso, Vignette and Starbase. Once the web site has been constructed using TeamSite, Interwoven’s OpenDeploy content management suite then enables users to automatically administer version control and update systems. OpenDeploy runs on all flavors of Unix, NT and OS/390.
Interwoven was established in 1995 by Peng Ong, now chairman and vice president of the professional services division. The company is opening a UK office and plans to establish a German branch in the next six months. Interwoven says it also plans to use the proceeds from the IPO to fund an Asian office in response to demand from Japan, Singapore and Hong Kong, as well as to develop the products for server-clustering environments and multiple languages.
Interwoven has global systems integration deals with KPMG, e-commerce firm IXL and PricewaterhouseCoopers and is in talks with Arthur Andersen. Although its own services division accounts for as much as 30% of total revenue, vice president for business development Jeffrey Engelmann says that Interwoven intends to get this down to about 15% to 20% as it concentrates more on software.
