Accounting software maker BlackLine files for IPO

Reuters

(Reuters) - Accounting software maker BlackLine Inc filed for an initial public offering with U.S. securities regulators on Friday, looking to ride on the recent success of technology offerings in a relatively quiet year for IPOs. Los Angeles-based BlackLine, founded in 2001 by Chief Executive Therese Tucker, counts Coca-Cola Co , Under Armour and Dow Chemical Co among its 1,500 customers. Reuters reported last week that the company was preparing for an IPO that could value it at more than $1 billion. Goldman Sachs, J.P. Morgan, Raymond James, William Blair and Baird are among the underwriters for the IPO, the company said in a filing with the Securities and Exchange Commission. Demand for tech offerings has been robust, and on Friday shares of Nutanix Inc , an enterprise data storage provider, more than doubled in their market debut. Nutanix sold 14.87 million shares, more than the expected 14 million, and priced them above the anticipated range of $13 and $15. BlackLine said it plans to list its shares on the Nasdaq under the symbol "BL". The IPO would raise up to $100 million, according to the filing. (http://bit.ly/2dgtg3E) The amount of money a company says it plans to raise in its first IPO filing is usually a placeholder. (Reporting by Narottam Medhora in Bengaluru; Editing by Sriraj Kalluvila)