Morgan Stanley is the "left lead" underwriter, and is joined by BofA Merrill Lynch as joint book-running manager. Stifel Nicolaus, William Blair, RBC and Montgomery & Co. are co-managers of the offering. Venture Capital investors listed in the S-1 include Polaris Venture Partners, Institutional Venture Partners and Kleiner Perkins Caufield & Byers.
An interesting point is that the company has filed as an "emerging growth company" as defined under the new Jumpstart Our Business Startups (JOBS) Act that was recently enacted to make it easier for certain companies to go public. It also previously filed its registration statement with the SEC on a confidential basis, a new feature of the JOBS Act.
LegalZoom enables consumers and small businesses to obtain basic legal forms that are customized to suit their needs. The cost savings can be substantial. For example, a standard incorporation in California handled by a full-service law firm can run $2,500 or more; compare this to under $600 for similar services from LegalZoom. LegalZoom has consultants available to assist with the process, and attorneys are also available (for additional fee). LegalZoom also has an Educaton Center with good information on various legal topics.
As a former corporate attorney and venture capital fund investor, I will be interested to see how LegalZoom does in its IPO.
S-1 registration statement:
LegalZoom press release:
Links to prior posts on the JOBS Act:
Wall Street Examining JOBS Financing Ace:http://www.allenlatta.com/1/post/2012/4/wall-street-examining-jobs-financing-act-ny-times-dealbook.html
JOBS Act Jeopardizes Safety Net For Investors: Andrew Ross Sorkin
JOBS Fundraising Act to be Signed into Law on Thursday
The JOBS Act is Good, But SarbOx Shouldn't Get All the Blame:
Unintended Consequences of the JOBS Act:
Fundraising Bill Passes Senate: