The company, whose search marketing technology is used by 91 Top 1000 e-retailers in North America, plans to go public next year on a U.S. stock exchange.
Oct. 6 (Bloomberg) -- Kenshoo Ltd., a maker of predictive marketing software, is planning an initial public offering on a U.S. exchange next year that could value it at about $750 million, according to Chief Executive Officer Yoav Izhar-Prato.
“It’s healthy for us to be a public company,” Izhar-Prato said in a phone interview today, adding that no final plans have been set. “This is the most likely path for the company right now.”
The Tel Aviv-based company, whose backers include Sequoia Capital Operations LLC and Bain Capital Ventures, has been in talks with financial institutions for a New York listing, Izhar- Prato said. Kenshoo is looking to expand its share of the digital advertising market, which the CEO estimates at $100 billion.
Kenshoo’s planned offering would add to a wave of Israeli startups listing in the U.S. At least nine Israeli companies have gone public on American exchanges this year, according to data compiled by Bloomberg and at least four more offerings are pending. Mobileye NV’s $1 billion IPO in July was the biggest on record in the U.S. by an Israeli company.
Founded in 2006, the company has EBay Inc., Facebook Inc., Wal-Mart Stores Inc. and Target Corp. among its customers, according to Izhar-Prato. Annual sales are “between $50 million to $100 million” and the company is approaching profitability, he said. Kenshoo has raised about $50 million in previous funding rounds, Izhar-Prato said.
By Bloomberg News
October 7, 2014, 9:43 AM