WAYNE, Pa.-Traffic information vendor Traffic.com Inc. announced plans to raise up to $86 million in an initial public offering. The company sells traffic information to radio and TV stations as well as online and wireless portals.
“Increased advertising on the Internet and on wireless devices is demonstrating advertisers’ desire to use new media platforms, extending beyond radio and television,” the company wrote in its IPO filing with the Securities and Exchange Commission.
During the past six months of this year, Traffic.com recorded revenues of $23 million and a net loss of $11.4 million. In the same period a year ago, the company posted revenues of $21.1 million and a net loss of $8.6 million.
