Led by InfoSpace Inc. [
INSP] founder Naveen Jain, Intelius Inc., which offers online directories and enables background checks, has
filed to raise up to $143 million in an initial public offering. Whether investors will get excited about a company led by Jain is an open question.
The executive has a colored past. Soon after he left InfoSpace four years ago, Jain was accused of misappropriating trade secrets from his former company after he founded Intelius and lured InfoSpace's chief software architect to join him.
One of the various suits that arose from these accusations is still ongoing, according to the filing. The Bellevue, Wash.-based company notes in its prospectus that "Mr. Jain has devoted significant attention to these litigations at various times, and certain of these actions have received media attention."
The company has consistently increased revenue, posting $18.1 million in 2004, $44 million in 2005, $54.7 million in 2006 and $60.2 million for the nine months ended Sept. 30, 2007. It reported $6.1 million in net income for the nine months ending Sept. 30 last year.
The offering will be underwritten by Deutsche Bank Securities, Bear, Stearns & Co., CIBC World Markets and Cowen and Co. - Olaf de Senerpont Domis
See Intelius S-1 from SEC.gov
View profile from Renaissance Capital's IPOhome.com
See April 2003 story from TheDeal.com
For more, see the Seattle Post-Intelligencer's Venture Blog
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