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The San Jose Mercury News notes that it's Silicon Valley's first tech IPO of the year.
Xoom was cofounded in 2001 by CEO
Hartz was an early investor in PayPal, and the company has other connections to the so-called "
For example,
Xoom says its fees are lower than those typically charged by banks and money transmitters for overseas transfers.
Xoom, which filed for its IPO last year, has been expected to kick off a busy year for public offerings. Investment banks, led by Goldman Sachs and Morgan Stanley, have been busily courting private companies seen as ready for the public markets.
Dropbox, the file-sharing service, is considering an IPO, for example.