Israeli adware company ironSource has told "Reuters" that it expects to double revenue in 2019 to $900 million and is looking to further expand by spending hundreds of millions of dollars on acquisitions.
In recent years IronSource has focused on the mobile gaming industry and provides developers a platform to acquire users and display ads within mobile phone games. The Tel Aviv-based company told "Reuters" that this strategic focus is paying dividends.
"Right now we are on a run rate of finishing 2019 with $900 million in revenue," co-founder and Chief Revenue Officer Omer Kaplan told "Reuters."
He added, "Gaming is the market everybody is going into," citing initiatives such as Apple’s Arcade subscription service and Google’s Stadia for streaming games.
ironSource has 780 employees including 50 in China.
Kaplan told "Reuters" that in terms of growth and profitability, the company is ready to go public, but the timing of an offering remains to be seen. ironSource's value is well over $1 billion according to market estimates. "For adtech it is still a good question what is the best timing," Kaplan said. "There will be a few companies that will go public in 2019 and 2020 and we will go when we feel the timing is right."
ironSource CEO is Tomer Bar-Zeev.
Published by Globes, Israel business news - en.globes.co.il - on April 1, 2019
© Copyright of Globes Publisher Itonut (1983) Ltd. 2019