Sales and use tax company Avalara has filed its long-awaited bid go public. In its filing with the SEC, the Seattle, Wash.-based company said it will seek a maximum of $150 million in proceeds from the offering.
The company’s form S-1 says Avalara lost $65.3 million for the year ended December 31, compared to a loss of $57.2 million for 2016. Revenue for the most recently ended year was $213.2 million, an increase of 27.3 percent from $167.2 million for the prior year.
CEO Scott McFarlane made the announcement at the company’s Crush conference underway this week in Washington D.C.
McFarlane received $2.3 million compensation for the 2017, compared to $2.1 million for 2016. That included $1.6 million in option awards last year and $1.5 million in the same category the prior year. CFO William Ingram was given $1.1 million in compensation in 2017 and $3.3 million the prior year. In 2016, his total was pushed up by option awards of $2.8 million. Chief revenue officer Pascal van Dooren was awarded $1.2 million in 2017 and $742,691 in 2016.
Bob Scott has provided information to the tax and accounting community since 1991, first as technology editor of Accounting Today, and from 1997 through 2009 as editor of its sister publication, Accounting Technology. He is known throughout the industry for his depth of knowledge and for his high journalistic standards. Scott has made frequent appearances as a speaker, moderator and panelist and events serving tax and accounting professionals. He has a strong background in computer journalism as an editor with two former trade publications, Computer+Software News and MIS Week and spent several years with weekly and daily newspapers in Morris County New Jersey prior to that. A graduate of Indiana University with a degree in journalism, Bob is a native of Madison, Ind
