Adtech Aleph Reveals 85% Revenue Increase Upon IPO Filing

Feb 7 (Reuters) – Digital advertising firm Aleph Group Inc has announced a more than 85% increase in revenue for 2021, according to an IPO filing made public on Monday.

Aleph is one of a handful of companies that have opted to press ahead with their IPO plans amid volatile market conditions that have forced a number of companies to cancel or postpone offerings since the start of the year.

Software startups WeTransfer, TypTap and Justworks and bitcoin miner Rhodium Enterprise are among the companies that canceled IPOs in January, citing unfavorable market conditions. Read more

Join now for FREE unlimited access to Reuters.com

Register

The tech-heavy Nasdaq (.IXIC) is down almost 10% this year, while the S&P 500 index (.SPX) is down around 6%.

Aleph, focused on emerging markets, helps major digital platforms connect with advertisers and customers. Its clients include Meta Platforms Inc (FB.O), Spotify Technology (SPOT.N) and LinkedIn, owned by Microsoft Corp (MSFT.O).

The company, which filed for a confidential IPO in October last year, reported revenue of $131 million for the year ended December 31, compared to $70 million in 2020. .

Founded in 2005 as IMS Internet Media Services, Aleph was formed by combining four digital media services companies last year. Sony Pictures Entertainment, MercadoLibre Inc (MELI.O), Twitter Inc (TWTR.N) and Snap Inc (SNAP.N) are among its investors.

Last month, Twitter Inc (TWTR.N) took a minority stake in Aleph, underscoring demand for brands that help companies advertise online. Read more

It was valued at $2 billion last year after private equity firm CVC Capital Partners bought a stake worth $470 million.

Aleph plans to list on the New York Stock Exchange under the symbol “ALEF”.

JPMorgan Chase & Co, Citigroup and Goldman Sachs were among the underwriters of the offer.

Join now for FREE unlimited access to Reuters.com

Register

Reporting by Mehnaz Yasmin in Bangalore; Editing by Amy Caren Daniel and Krishna Chandra Eluri

Our standards: The Thomson Reuters Trust Principles.

About Sandy Fletcher

Check Also

Political influencers: Gen Z show their power and raise the stakes online

The midterms not only saw the election of the first Gen Z member of Congress, …