February 10, 2010 6:18 PM EST
An initial public offering (IPO) is the very first time a company sells its shares to the public. Issuing an IPO marks a company's shift from privately-held to publicly-traded status; which means they have to disclose all kinds of details about how their company works.
GameFly issued a $50 million initial public offering (IPO) today with the Securities and Exchange Commission. This makes the video game rental service a publicly-traded company, which means we now get to know all kinds of details about GameFly that used to be private.
For example, the IPO reveals that GameFly has 334,000 subscribers as of September 2009; its network of sites (e.g. Shacknews) draws 4.4 million unique site views; and CEO and President David Hodess made $390,911 in total compensation last year.
You can check out the form here and keep an eye out for "GFLY" on the NASDAQ Global Market ticker (I haven't seen it there, yet).
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