Blackhawk Files For $200M IPO
Blackhawk Network Holdings, a provider of prepaid cards and services for consumer and business use, filed Monday for an initial public stock offering worth up to $200 million, the San Francisco Business Times reports.
The Pleasanton, Calif.-based company, founded in 2001 and 96 percent owned by Safeway Inc., saw annual revenue rise from 2008 to 2012 from $362 million to $959 million, with annual net income increasing from $22.7 million to $50.3 million.
Blackhawk offers gift cards from Amazon.com, Applebee’s, iTunes, Lowe’s, Macy’s and Starbucks and from payment networks that include American Express, MasterCard and Visa. It also offers reloadable stored value cards provided by Green Dot and NetSpend.