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|Local Matters IPO Announced|
| 4:21 am on Mar 24, 2006 (gmt 0)|
|A Denver software firm headed by the founder of MapQuest wants to sell about $57 million of stock in an initial public offering. |
Local Matters Inc. focuses on local Internet search, technology that enables consumers to use Internet directories to find restaurants, stores and other businesses in a particular area.
|The 187-employee Local Matters, which also has offices in Florida, Louisiana and Utah, lost $18.6 million on revenues of $8.5 million in 2005. |
As of Dec. 31, the company had an accumulated deficit of nearly $90 million, according to the filing.
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