TLVMedia plans $30m TASE IPO

The performance-based display advertising company is planning an IPO at a company value of $120 million, after money.

Sources inform ''Globes'' that performance-based display advertising company TLVMedia Ltd. is examining with underwriters a $30 million IPO on the Tel Aviv Stock Exchange (TASE) at a company value of $120 million, after money. TLVMedia, founded in 2007 by CEO Ohad Gliksman and president Ofer Zinger, has 25 employees in Tel Aviv.

TLVMedia declined to comment on the report.

If the IPO goes ahead, TLVMedia will join other online advertising companies on the TASE, such as Babylon Ltd. (TASE:BBYL), Perion Network Ltd. (Nasdaq:PERI: TASE:PERI), Somoto Ltd. (TASE: SMTO), and WhiteSmoke Software Ltd. (TASE: WSMK).

TLVMedia claims that its solutions benefit from exposure to 20 billion users a month, and its solutions can also be used on mobile devices and social networks. IVC estimates the company's revenue in 2011 at $20 million, and on the basis of its growth rate in previous years, its revenue in 2012 was double that.

The sources add that TLVMedia is not the only Israeli online advertising company considering a TASE listing. An examination by "Globes" found at least ten companies considering an IPO or merger with a TASE-listed company. In addition to the merger of Conduit's toolbar business with Perion and Babylon's merger with ironSource Ltd. (which may be in doubt), Marimedia Ltd. is mulling a TASE IPO.

However, the TASE is not the main target of Israeli online companies. This week, Wix Ltd. is set to try and raise $100 million on the New York Stock Exchange at a company value of $500 million, and Matomy Media Group Inc. is planning to raise $150 million on the London Stock Exchange in the first quarter of 2014.

Published by Globes [online], Israel business news - - on October 29, 2013

© Copyright of Globes Publisher Itonut (1983) Ltd. 2013

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