LegalZoom Plans IPO, Riding Growing Demand for DIY Legal Services
The online legal services provider and attorney marketplace has aggressively stepped up its sales and marketing as it looks to expand its small-business customer base and offer a broader array of products.
June 07, 2021 at 11:23 AM
3 minute read
Initial Public Offerings
Add LegalZoom to the growing list of legal tech companies that are looking to go public. On Friday, the online legal services provider and attorney marketplace filed with the U.S. Securities and Exchange Commission announcing its plans for an initial public offering.
The move comes at a time of rapid growth for online legal marketplaces and do-it-yourself legal tech solutions, which have attracted consumers and small businesses who have tightened their legal budgets over the past year in response to the COVID-19 pandemic.
Indeed, in its S-1 filing, LegalZoom noted its revenue grew from $408 million in 2019 to $470.6 million in 2020, a 15% year-over-year jump. What's more, the company's revenue for the three months ending in March 31, 2021, grew 27% compared with the same period last year.
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