Veteran Israeli technology company AppsFlyer is renewing its plans for an IPO, and, according to Bloomberg, this time the prospect seems more real than ever. The company, which was founded in 2011 by its CEO Oren Kaniel and its CTO Reshef Mann, has chosen Goldman Sachs, JP Morgan Chase, and Bank of America, to lead the offering, if it takes place.
Bloomberg reports that the company will seek to raise $300 million at the beginning of 2025, but that the offering could take place earlier, depending on market conditions. The company valuation for the purposes of the offering has yet to be determined.
The company’s platform provides measurement, analytics, engagement, and fraud protection technologies for app marketers. Among its customers are eBay, Visa, and Nike. It employs about 1,000 people and is managed from Herzliya Pituah.
According to assessments by analysts, the offering could be postponed to the second half of 2025 or to the first half of 2026. AppsFlyer has not raised capital since 2020. The company has been profitable for several years, and generates annual revenue of $300-350 million from the sale of software as a service, according to its statements in the past. For an IPO to succeed, Kaniel and the underwriters will have to persuade investors that the company is capable of rapid growth.
According to the IVC website, AppsFlyer has raised a total of $314 million from investors such as General Atlantic, Eight Roads, Qumra Capital, Pitango, and Magma.
Published by Globes, Israel business news - en.globes.co.il - on June 5, 2024.
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