Israeli web analytics company Similarweb files for NYSE IPO
The company said it would trade on the NYSE with the ticker symbol SMWB, but provided few other details.
By ZEV STUBUpdated: APRIL 18, 2021 11:39An employee works at Internet data firm SimilarWeb at their offices in Tel Aviv, Israel.(photo credit: BAZ RATNER/REUTERS)Tel Aviv-based web analytics company Similarweb said over the weekend that it filed with the US Securities and Exchange Commission to do an IPO on the New York Stock Exchange. It is believed that the company would aim to raise money atr a valuation of $1.5-2 billion.The company said it would trade on the NYSE with the ticker symbol SMWB, but provided few other details.J.P. Morgan and Citigroup will act as lead book-running managers for the proposed offering, with Barclays and Jefferies acting as joint book-running managers. JMP Securities, Oppenheimer & Co. and William Blair will act as co-managers for the proposed offering, it said.The company plans to use the funds from the IPO for sales and marketing, technology development, working capital, operating expenses, capital expenditures and possible future M&A deals, it said.Similarweb provides information about Websites' traffic for competitive market research, sales and marketing, investing and other uses. The company said in its SEC filing that it had 2,718 paying customers as of Dec. 31, including nine of the top 10 technology organizations, seven of the top 10 financial services organizations, and five of the top 10 retail organizations.
