Israeli ad-tech firm IronSource plans Nasdaq IPO – report

Advertising tech firm IronSouce is planning an initial offering of shares on Nasdaq at a valuation of $7 billion to $8 billion, Calcalist reported on Monday, citing unidentified sources.

The IPO would be held in the first half of next year, Calcalist said, adding that the offering at that valuation would make it the largest ever by an Israeli firm on Nasdaq. A final decision about the share sale will be made very soon, the financial website said, with Goldman Sachs likely leading the offering.

IronSource gives developers a platform to acquire users and display ads in cellphone games.

The firm, founded in 2010 by Eyal Milrad, Omer Kaplan, Tamir Carmi, Tomer Bar-Zeev, Gil Shoham and Arnon Harish, has raised $105 million to date from investors, according to Start-Up Nation Central’s database. Investors include Saban Ventures and Access Industries, according to the database. Viola Ventures also holds a 10% stake in the firm, Calcalist said.

In October 2019, UK-based private equity firm CVC acquired a minority stake in the firm for more than $400 million.

Source link

What do you think?

Written by Aakash Malu


Leave a Reply

Your email address will not be published. Required fields are marked *





Israeli lab uses math hack to roll out speedy one-stage pooled virus test

Wally the llama’s antibodies, analyzed in J’lem, may help millions through COVID