RealPage (NASDAQ:RP) sells software to the rental housing industry. The company's software allows property owners and managers to run the marketing, pricing, screening, leasing, accounting, purchasing, and other similar operations. The tool allows for a single point of access and a single repository for all the information to ensure that the process is streamlines. It also helps the owners and managers to cut costs and increase revenue by running more effective marketing campaigns, raising occupancy levels, increasing pricing, and generally saving time.
RealPage has over 6,100 customers as of June 30, 2010. They also sold to 9 of the 10 largest multi-family property management companies in the United States.  While there are many other competitors which offer certain software or Software as a Service solutions, few of them are as integrated and complete as RealPage. Many of the alternatives require multiple log ins and tools.
The company's initial public offering of stock filed on the NASDAQ and went public on 11 August 2010. It priced at $11, which was below its initial price range of $13-$15. In addition to pricing below the range, the company also cut its offering from 13.4M shares down to 12.3M shares. The deal raised $135M in the end. The lead underwriters were Credit Suisse Group (CS) and Deutsche Bank AG (DB).
For the fiscal year 2009 RealPage announced total revenue of $141M. This was a 24.7% increase from the $113M in revenue for 2008. The rise in revenue came almost entirely from an increase in On Demand software sales. Fees from professional services did not increase between 2008 and 2009. Net income for 2009 was $28M. This was a substantial increase from the -$3.2M loss in 2008. The rise came mostly from a $26M tax benefit which was a result of a reduction in the net deferred tax assets valuation allowance.