ReachLocal Files for IPO

ReachLocal, the fast growing search and display sales channel for small businesses with operations in the U.S., U.K., Canada and Australia, has filed with the SEC to raise $100 million in an IPO. The company recently reported that it has 500 + salespeople and 300 staffers.

Reach earned $146.7 million in revenues in 2008, up from $68.4 million in 2007. It had a net loss of $7 million in 2008. It has raised more than $60 million, including $55.2 million two years ago, when it was rumored to be valued at $305 million.

The IPO, assuming it goes out, will be closely watched by other SMB sales companies that may pursue a similar route, including WebVisible, Yodle, Clickable, Matchcraft, Orange Soda and others. Marchex has been public since 2004.

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