Israeli web behavior and traffic analytics company Similarwebhas filed to issue 7.5 million shares on the New York Stock Exchange (NYSE) in an Initial Public Offering (IPO) at a price of between $19 and $21 per share. At the mid-range the company would raise $150 million at a company valuation of $1.5 billion.
At the same time, Similarweb founder and CEO Or Offer will sell 500,000 shares, worth $10 million at the mid-range. After the sale and the IPO, Offer will remain with a 7.5% stake in Similarweb’s equity.
J.P. Morgan, Citigroup, Barclays and Jefferies are acting as joint book-running managers while JMP Securities, Oppenheimer & Co. and William Blair will act as co-managers for the proposed offering.
Similarweb has raised $240 million to date including $120 million last October co-led by ION Crossover Partners and Viola Growth.
The company has developed a platform for understanding online behavior by monitoring traffic on the web and mobile apps, and which is used by millions of people for digital insights, including more than half of the Fortune 500 companies.
Published by Globes, Israel business news – en.globes.co.il – on May 3, 2021
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