Israeli company filed Similarweb files for its IPO


The Tel Aviv-based web traffic analytics company is looking for a valuation of between $ 1.5 billion and $ 2 billion.

Israeli web traffic analysis company Similar announced that it has filed with the United States Securities and Exchange Commission (SEC) an initial public offering (IPO) on the New York Stock Exchange (NYSE), for a valuation of the company between 1.5 and 2 billion of dollars. The company has yet to decide how many shares it will sell and at what price. Similarweb plans to trade on the NYSE under the symbol SMWB.

JP Morgan and Citigroup will act as the primary bookkeepers for the proposed offering, with Barclays and Jefferies acting as co-bookkeepers. JMP Securities, Oppenheimer & Co. and William Blair will act as co-managers for the proposed offering.

Similarweb, led by co-founder and CEO of 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 web traffic and mobile apps, and which is used by millions of people to gain insight. digital information, including more than half of Fortune 500 companies. companies.

The IPO prospectus reveals that revenue increased 33% in the 12 months ending March 31 to $ 107 million. Revenue in 2020 was $ 94 million with a net loss of $ 22 million.

Posted by Globes, Israel Business News – en.globes.co.il – April 16, 2021

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