Vancouver, Washington-based ZoomInfo did not disclose how many shares it plans to sell or at what price range, which are details that are normally released as the IPO process moves forward. Based on a typical IPO calendar, ZoomInfo could price its IPO by late March.
ZoomInfo runs a cloud-based platform of business information on more than 14 million companies and 100 million professionals. It sells access to its database to sales and marketing teams that are looking to identify customers and learn market intelligence.
"Independent of size or industry, we believe our platform can make almost any sales and marketing team more effective and more efficient," ZoomInfo said in a registration statement filed with the U.S. Securities and Exchange Commission.
ZoomInfo also disclosed risks facing its business, including the evolving state of data privacy and protection laws. The company said the Federal Trade Commission and the European Union's increased focus on data protection, as well as the newly imposed California Consumer Privacy Act, could impact its business, which relies on collecting information.
"Laws such as these give rise to an increasingly complex set of compliance obligations on us, as well as on many of our customers," ZoomInfo told the SEC.
ZoomInfo reports 192,00 paid users and $299.3 million in revenue in 2019, more than double the prior year's revenue totals. The company also reported a $78 million loss in 2019.
The company is going public through an "Up-C" structure, a form of IPO that allows owners of a partnership to conserve certain tax benefits. ZoomInfo is backed by several private equity firms, including TA Associates, The Carlyle Group and 22C Capital.
ZoomInfo is going public during a dry spell for IPOs and rocky times for the stock market, which has posted several large losses this week as investors sort through the economic fallout of the coronavirus. Only one company, biotechnology firm Passage Bio Inc., is scheduled to go public this week.
But February is traditionally a slow month for IPOs, which normally pick up as spring approaches.
ZoomInfo shares are slated to trade on the Nasdaq exchange under the symbol "ZI."
J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Barclays Capital Inc., Credit Suisse Securities (USA) LLC, BofA Securities Inc., Deutsche Bank Securities Inc., RBC Capital Markets LLC, UBS Securities LLC and Wells Fargo Securities LLC are lead underwriters on the IPO.
ZoomInfo is represented by a Simpson Thacher team led by partner Richard Fenyes.
The underwriters are represented by a Latham & Watkins led by partners Marc Jaffe, Jason Licht and Stelios Saffos.
--Editing by Adam LoBelia.
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