Taptica founders sell shares for $51m in AIM offering

London Stock Exchange Photo: Blake Ezra
London Stock Exchange Photo: Blake Ezra

The Israeli mobile ad company has seen it market cap increase 173% since its IPO in 2014.

Three Israelis have sold shares in mobile adtech company Taptica International Ltd. (AIM: TAP.L) in a secondary offering on London's Alternative Investment Market. Former COO Maia Shiran and Ariel Cababie each sold shares for $16 million while angel investor Ehud Levy sold his shares for $19 million. The $51 million offering was carried out at a company value of $329 million. 10.25 million shares were sold by the three representing a 16.9% stake in the company.

Founded in 2007, the Tel Aviv company held its IPO in 2014 when it was then called Marimedia, raising £17.9 million at a company value of $160 million. The market cap has risen 173% since then.

The company's Qadabra technology enables publishers to trade space on their sites electronically for the highest price possible. Marimedia changed its name after acquiring a company called Taptica for $13.8 million in 2014. Later that year it also acquired AreaOne for $15.6 million and earlier this month it acquired 57% of Japanese mobile adtech company Adinnovation for $5.7 million.

Published by Globes [online], Israel business news - www.globes-online.com - on July 26, 2017

© Copyright of Globes Publisher Itonut (1983) Ltd. 2017

London Stock Exchange Photo: Blake Ezra
London Stock Exchange Photo: Blake Ezra
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