The provider of online customer-relationship management software said it had filed a registration statement with the Securities and Exchange Commission for a proposed initial public offering. All of the shares would be sold by the company.
Morgan Stanley & Co. would be the lead underwriter for the IPO. No date was given for the public offering.
Tech IPOs launched this year have done well, with the average share price up 28% from the initial price, according to research firm Thomson Finanical. Online travel site Orbitz Inc. went public on Wednesday, opening its IPO at $26 a share. However, the company ended the day down at $24.98 and fell again Thursday, closing at $23.01.