Messaging vendor SpinVox has appointed Goldman Sachs Group as an adviser to raise further funding that could include an IPO, according to a Dow Jones Newswires report. The report adds that the bank will look at a number of financial options for the UK-headquartered company. A potential IPO would be expected to value the business at around £200 million.
SpinVox – whose flagship product converts voice messages into text – has already raised approximately US$100 million, but is reported to be looking for further funds to expand into Latin America and the US. Operator customers include Alltel, Rogers Wireless, Telstra and Vodafone Group. According to the report, SpinVox plans to double revenue to US$100 million in 2009 from US$50 million in 2008.