GameFly, the Netflix-like videogame rental service, filed for an initial public offering this morning that could raise up to $50 million. According to the S-1 registration document filed with the SEC, the company:
- Had more than 334,000 subscribers at the end of Sept. ’09 (up 25% from the previous year)
- Sees around 8% of its customers cancel its service each month
- Spent $25.90/person in new subscriber acquisition costs (as of Sept. 2009)
- Stocks over 7,000 games
- Sold $10.8 million worth of its previously-rented games to customers in fiscal ’09
- Wants NASDAQ to give them the GFLY ticker symbol