Israeli smart VoD company Vonetize raised NIS 16 million on the Tel Aviv Stock Exchange yesterday, after previously twice cutting the amount it planned to raise. The company sold 16% of its equity at a company value of NIS 100 million, "after money." The IPO's underwriters were discount Underwriters, Rosario Capital and Egoz Offerings and Finance. RELATED ARTICLES Vonetize CEO blames underwriters for failed IPO Smart VOD co Vonetize plans NIS 30-40m TASE IPO Vonetize has initially planned to raise NIS 60 million at a company value of NIS 250 million but lack of interest by investors persuaded it to cut the IPO twice. Vonetize CEO Noam Josephides blamed the underwriters for the failure of the previous IPOs. Vonetize's business is the distribution of video on demand (VoD) content to smartphones and televisions. The company was founded in 2011, and raised about $6 million in several private rounds in 2014 and 2015. The last placement, in 2015, was based on a post-money company valuation of $30 million. Published by Globes [online], Israel business news - www.globes-online.com - on August 1, 2016 © Copyright of Globes Publisher Itonut (1983) Ltd. 2016
