– GameFly, the operator of an online video game rental service, on Wednesday
filed with the SEC for an initial public offering of shares that aims to raise
up to $50 million. Underwriters include BofA Merrill Lynch, Piper Jaffray,
Cowen and Company, and William Blair & Company.
Investors in the company
have included Sequoia Capital and Tenaya Capital.
Founded in 2002, Los
Angeles-based GameFly offers an online service that lets subscribers rent video
games through the mail.
The company counted 334,000 as of Sept. 30.
GameFly will use proceeds from the IPO for general corporate purposes, including
working capital and sales and marketing activities.