Austin-based CreditCards.com filed for an initial public offering (IPO) of it’s stock today. Back in 2005, Austin Ventures set aside capital to acquire a financial services company, and in 2006 they purchased creditcards.com. The filing makes for interesting reading over on EDGAR. You can read the Forbes.com coverage here, and some interesting commentary from 24/7 Wall Street here.

In the first half of 2007, the company posted $27.4M in revenues, and made $2.8M. This was an earnings slide from the same period in the previous year when the company posted $9.6M in earnings. The total offering, underwritten by Credit Suisse, Citigroup, and Thomas Weisel Partners, is $115M.

Austin Ventures holds a 65% stake in the company, while company founder Dan Smith holds 16%. The financial returns for Austin Ventures in this case seems to validate their strategy of investing in larger private equity deals. Hopefully some of those returns will find their way back into the true venture investing arena.