Billionaire entrepreneur Teddy Sagi is planning on making his third IPO in 10 years with a listing for Crossrider, a digital content monetisation platform owned by the Israeli businessman.
The company helps web media creators find their voice and audience, as partnerships with the likes of WPP and Omnicom power an estimated 150 million ad impressions per month. Typical clients of Crossrider include desktop and mobile web app developers, who will enlist the company’s expertise for distributing their titles via user-relevant advertising.
Reports suggest that Crossrider is set to make a public offering on London’s AIM market, with experts tipping its effort to raise around $75 million (£46 million) in equity.
Thousands of clients, millions of impressions
A sizeable chunk of any capital generated from the float is expected to go towards helping Crossrider expand through new acquisitions.
The company has also announced plans to make a selective investment in research with the aim of developing its existing line of monetisation products.
These data-driven solutions include an ad exchange which connects advertisers with publishers, also offering reporting for clicks and conversations.
Crossrider uses these products and services to power ad campaigns with over 31,000 developers, resulting in around 1.8 million daily installs for the app side of the business.
IPO background
Sagi, the man behind the float and 82% of Crossrider shares, has recent experience in managing IPOs after ordering the same fate to his online payment processor, SafeCharge, earlier this year.
This followed the listing of another Sagi-controlled enterprise, gambling software firm Playtech, in 2006.
The Crossrider IPO is being advised by Shore Capital, which has valued the business at a reported £150 million.