27 Year Old Ryan Allis Sells Company iContact for $169 Million : Under30CEO 27 Year Old Ryan Allis Sells Company iContact for $169 Million : Under30CEO
arrow
Join the Under30CEO Community We deliver tips, tools and inspiration for your business. Daily to your inbox.

27 Year Old Ryan Allis Sells Company iContact for $169 Million

| February 29, 2012 | 2 Comments

Aaron Houghton & Ryan Allis

Ryan Allis and his company iContact were sold yesterday for $169million to Vocus. IContact provides email marketing software that makes it easy for small to mid-sized businesses to create and send professional-quality email campaigns. Ryan co-founded iContact with Aaron Houghton while they were students at the University of North Carolina back in 2003. Today the company has 70,000 customers and over 1 million users. Ryan had said back in the fall that he expected the company to surpass $50million in revenue for 2011.

The sale seems like a great fit for both Vocus and iContact. While both sets of customers will see no change to their current services right now. Later this year customers will have the option of continuing to use a stand-alone product or upgrading to an integrated marketing suite combining email, social, search and publicity.

The deals terms:

Vocus acquired iContact for approximately $91 million of cash, $9 million of common stock and $79 million of redeemable convertible preferred stock, aggregating $169 million of total consideration, net of $10 million cash acquired.

Under30CEO had recently featured Ryan and iContact on our 30 Most Influential Young Entrepreneurs of 2011. It’s great to see that he has moved on to the next level.

About the Author: Jared O'Toole

Co-founder and editor of Under30Media. You can send an email to Jared(at)Under30CEO.com. Follow him on Google+ or @JaredOToole

Opt In Image
Awesome People + Awesome Places
Travel around the world while making new friends

Under30Experiences curates awesome experiences around the world for young travelers.

Tags: , ,

Category: Startup Advice

  • http://www.appointmentsetting.com/ simonswills

    That would be definitely great moments for both of you and so with more reputable and respectful wishes for such a young business tycoon.

  • http://www.appointmentsetting.com/ simonswills

    That would be definitely great moments for both of you and so with more reputable and respectful wishes for such a young business tycoon.