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New York-based Yext files for IPO

Yext, the company that powers location data in search results, has revealed its IPO filing. The business will be able to join the stock market as soon as April. The offering is said to raise $100 million, but that number is subject to change. We will get more of an indication in the coming weeks about how Yext plans to price its shares.

With clients like Best Buy, McDonald’s and Marriott, Yext is responsible for the location results that appear on search engines, social media and maps. The company had the early vision that consumers would prefer to find nearby locations without visiting brand websites.

The company brought in $88.6 million in revenue in the nine months ending in October of last year, with losses of $28.6 million for the same time frame. Revenue is up from $64 million in the same period the year before and losses narrowed to $18.2 million.

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