Conduit ranked 25th in "Business Insider" Digital 100

The rankings of the world's private high-tech companies values the cloud-based tools developer at $1 billion.

Conduit Ltd. is ranked 25th in the "Business Insider" Digital 100 of the world's most valuable private high-tech companies. The rankings are based on data, including revenue, users, market opportunities, growth rates, and the perception of investors and tech gurus. Conduit offers cloud-based tools to help web and mobile publishers engage their audience.

"Business Insider" estimates Conduit's value at $1 billion. It says, "In April, Conduit was valued at $1.3 billion when its investor Yozma Venture Capital sold its stake and J.P. Morgan's fund bought a 7% stake for $100 million. The valuation was given before Facebook's IPO and the tech environment is different now."

Conduit is ranked one spot behind Rovio Inc., the developer of Angry Birds, and four spots below games platform Hulu Inc.

Free website builder Wix Ltd., ranked in 65th place, is another Israeli company that made the rankings.

"Business Insider" said that this year's list shed several top companies, which went public on Wall Street, including Facebook Inc. (Nasdaq: FB), Zynga Inc. (Nasdaq: ZNGA), and Groupon Inc. (Nasdaq: GRPN). This year's top company is China's Alibaba Ltd., with an estimated value of $40 billion. The Bloomberg news agency is in second place, with an estimated value of $35 billion, and Twitter is in third, with an estimated value of $5.25 billion.

Published by Globes [online], Israel business news - - on October 4, 2012

© Copyright of Globes Publisher Itonut (1983) Ltd. 2012

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