Citing sources familiar to the matter, news agency Bloomberg reported on Wednesday that Mizuho and Hubert Burda-backed vertical media company Glam Media is looking for banking firms to underwrite an initial public offering (IPO) in 2012.
Goldman Sachs and Morgan Stanley are currently under consideration, with Bank of America, Citi and Credit Suisse also contenders, according to the sources.
Glam Media has raised about $175m in financing since it was founded in 2003, and both Mizuho Bank-affiliated unit Mizuho Capital and media company Hubert Burda, through its Burda Digital Holding subsidiary, invested in a series E round last year which raised $50m, as well as a $10m series D round the year before.
Other investors in Glam include financial services firm the Silicon Valley Bank, Man Group subsidiary GLG Partners, finance company Hercules Technology Growth Capital, venture capital firms DAG Ventures, Draper Fisher Jurvetson, Walden Venture Capital, Accel Partners, private equity fund Aeris Capital and Information Capital, an investment unit headed by Glam Media co-founder Samir Arora.
The news comes three months after Glam acquired social network Ning for a reported $150m. Other acquisitions made by Glam Media include digital marketing company Monetise, advertising monetisation business AdaptiveAds and advertising media firm BBS Media.