17 March 2010
On-demand publisher Lulu to go public
TORONTO—On-demand publishing site Lulu.com has filed a preliminary prospectus to take the company public in April on a Canadian stock exchange.

The Raleigh, N.C.-based company was founded in 2002 and helps authors self-publish books and other items, working with six printers in three continents. It has offices in Toronto, London and Bangalore. Lulu was founded and is headed by Canadian-born Bob Young, former owner and founder of Red Hat software company  and current owner of the Hamilton Tiger Cats.

Lulu lost US$13.8 million in 2008 and US$1.9 million last year, but turned in a profit in the fourth quarter of 2009, earning US$140,000, according to financial statements from the company. Revenues for the company, which claims more than 1.1 million users, were US31.6 million in 2009.

The prospectus didn’t specify how much the company plans to raise by selling stock in its initial offering, or the second offering that immediately follows. Dow Jones Newswire reported in January that Lulu planned to raise as much as $50 million. 

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