France-based display technology company, Criteo, is set to go public in the US later this year with a value of between $270-400 million on either the New York Stock Exchange or Nasdaq, according to a recent report in French technology online publication, journal du net.
The exact date and choice of stock exchange is said to be dependent on factors such as the ‘visibility offered by these markets, market conditions and the ability to generate cash’. Nasdaq is the world’s second-largest stock market, after New York.
September has been earmarked as a target for Criteo, which is hoping the additional funds raised by an Initial Public Offering will fuel its external growth strategy and target acquisitions that will add to its own technology.
Exponential Sales Growth
Sales have been on a steep incline since Criteo was founded in 2005. Revenues of $9 million were recorded in 2009, $60 million in 2010, $200 million in 2011 and last year it doubled that figure to secure $400 million.
There have been a number of fundraising activities over the years. The most recent, in September 2012, was $40 million led by Japanese Softbank Capital, which at the time valued the company towards the $800 million mark.
More than 3000 advertisers use Criteo’s retargeting technology that was created at its research and development centre in Paris. The firm has 800 staff spread across 15 offices in Europe, the Asia Pacific and Americas.