Israeli co Similar files for NYSE IPO


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Tel Aviv-based web traffic analytics company is looking for an estimate of between $ 1.5 billion and $ 2 billion.

Israeli web traffic analytics company Similarweb announced it had applied to the U.S. Securities and Exchange Commission (SEC) for an initial public offering (IPO) on the New York Stock Exchange (NYSE), the company estimated between $ 1.5 billion and $ 2 billion. The company has not yet decided how many shares it will sell and at what price. Similarweb plans to trade on the NYSE under the SMWB label.

JP Morgan and Citigroup will act as lead book managers for the proposed offering, and Barclays and Jefferies will act as joint book managers. JMP Securities, Oppenheimer & Co. and William Blair act as co-managers for the proposed bid.

Similarweb, led by co-founder and CEO Or Offer, has raised $ 240 million to date, including $ 120 million last October, along with ION Crossover Partners and Viola Growth. The Tel Aviv-based company, founded in 2007, has developed a platform for understanding online behavior by tracking web traffic and mobile apps, which millions of people use for digital insights, including more than half of Fortune 500 companies.

The prospectus for the IPO reveals that revenue rose 33% in the 12 months ended March 31 to $ 107 million. Revenue in 2020 was $ 94 million with a net loss of $ 22 million.

Posted by Globes, business news in Israel – en.globes.co.il – April 16, 2021

© Copyright Globes Itonut (1983) Ltd. 2021



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