E2Open Files For IPO

Foster City-based E2Open, which operates a cloud-based business trading network, has filed for an IPO. The firm said it is looking to raise up to $86.25M in its IPO. The company has not set an exchange. The IPO is being underwritten by BofA Merrill Lynch, William Blair & Company, Pacific Crest Securities, Canaccord Genuity, and Needham & Company. E2Open is venture backed by Crosspoint Venture Partners, Seagate Technology, JK&B Capital, Invesco, B&M Ventures, along with others. E2Open's systems are used to smooth out trading and purchasing activities between companies.