46% Revenue Rise at TechTarget

BOSTON As it readies an initial public offering for later this year, IT publisher TechTarget reported a 46 percent rise in revenue for 2005, compared to the previous 12-month period.

The Needham, Mass.-based company did not break out numbers, but said all of its major division (online, print and events) were up more than 40 percent last year, compared to 2004.

Founded in 1999 at the height of the dot-com boom, TechTarget claims to have been profitable since 2002, but did not disclose net income.

In a statement, the company attributed its strong performance to increased ad budgets and more ad orders placed by high-tech vendors. The addition of more than 600 new advertisers further fueled TechTarget’s growth, the company said.

“We have never wavered from our highly targeted media model; this has enabled us to deliver superlative results and strong ROI to clients,” said TechTarget CEO Greg Strakosch.

The company said it launched five Web-based properties and two print magazines last year.

—Adweek staff report