Can Mindbody Use Its IPO To Overcome Its Increasing Losses?

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benzinga.comMINDBODY Inc (NASDAQ: MB), a cloud-based SaaS provider for fitness and beauty services plans to raise $100 million for its IPO Friday.

The company will offer 7.2 million shares between $13 and $15 per share through Morgan Stanley, Credit Suisse and UBS. Although the company operates in the growing health and fitness market along with the highly anticipated Fitbit IPO this Thursday. The company has been mired in losses with no clear direction forward.

A Closer Look At Mindbody

Mindbody was founded in 2001 in California as a wellness and fitness platform to provide customer service, scheduling and payment software to health and beauty small- and medium-sized businesses. The company was an early leader into the health and fitness industry that ignited in 2004.

Read more at benzinga.com

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