Israeli ad-tech company Tremor international Ltd. (LSE: TRMR) has filed for an IPO on Nasdaq, after its share price has risen by almost 500% on the London Stock Exchange over the past year to a market cap of about £1.1 billion ($1.5 billion). The company held its IPO in London seven years ago at a market cap of just £160 million, after money.
Tremor, founded as Marimedia, and then known as Taptica, has developed an automatic data-based trading platform for advertisers. The software platform that Tremor provides is designed for different types of media (mobile, smart TVs and more) and streamlines trading between advertising buyers and publishers selling advertising.
Tremor CEO Ofer Druker was formerly the founder and CEO of Matomy Media, an Israeli ad-tech traded in London, which became a stick exchange shell after failing to overcome its financial problems. Druker became CEO in 2019 after Tremor acquired ad-tech company RhythmOne for $176 million. In early 2020, Tremor acquired unruly from Rupert Murdoch's News. Corp.
Tremor hopes to raise $100 million on Nasdaq and the company says it is well placed for rapid growth in the digital advertising market including in video and smart television, which made up 68% of its revenue in 2020.
Revenue in 2020 was $212 million, down 34.9% from 2019 but revenue in the first quarter of 2021 was $71 million, up 83.9% from the corresponding quarter of 2020. Net profit was $2.1 million in all of 2020 but rose to $12.9 million in the first quarter of 2021.
Published by Globes, Israel business news - en.globes.co.il - on May 31, 2021
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