Digital content delivery company ironSource has closed an investment round of $80 million to $100 million. The investment is being made by a consortium of American, European and Asian investors, a person familiar with the matter, told the "Wall Street Journal."
The Tel Aviv based company is planning a Wall Street IPO in the second quarter of 2015.The company, founded in 2009 by CEO Tomer Bar Zeev, Tamir Carmi and Eyal Milrad, has hired JP Morgan and Morgan Stanley as advisers for the IPO, at an estimated company value of $1.5 billion.
The company's annual revenue in 2014 will be $270 million, according to IVC, up from NIS 270 million in 2013. IronSource’s software manages downloads and optimizes the process to create a better installment success rate. The company has also expanded its mobile offerings in the last year and its mobile business adds tens of millions of dollars in revenue annually.
IronSource currently employs 370 and the company plans to expand its offering and revenue streams through acquisitions before the planned IPO, the source told the "Wall Street Journal."
Published by Globes [online], Israel business news - www.globes-online.com - on August 11, 2014
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