Israeli web traffic analytics company Similarweb has announced that it has filed with the US Securities and Exchange Commission (SEC), for an Initial Public Offering (IPO) on the New York Stock Exchange (NYSE), at a company valuation of between $1.5 and $2 billion. The company has not yet decided how many shares it will sell and at what price. Similarweb plans trading on the NYSE under the SMWB ticker.
J.P. Morgan and Citigroup will act as lead book-running managers for the proposed offering, with Barclays and Jefferies acting as joint book-running managers. JMP Securities, Oppenheimer & Co. and William Blair will act as co-managers for the proposed offering.
Similarweb, led by cofounder and CEO Or Offer, has raised $240 million to date including $120 million last October co-led by ION Crossover Partners and Viola Growth. The Tel Aviv based company, which was founded in 2007, has developed a platform for understanding online behavior by monitoring traffic on the web and mobile apps, and which is used by millions of people for digital insights, including more than half of the Fortune 500 companies.
The prospectus for the IPO reveals that revenue grew 33% over the 12 months ending March 31 to $107 million. Revenue in 2020 was $94 million with a net loss of $22 million.
Published by Globes, Israel business news - en.globes.co.il - on April 16, 2021
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