Aleph Group is aiming to be one of the first companies to attempt an initial public offering in the U.S. this fall, according to a person close to the company.
The digital-advertising company, which generates revenue by helping social-media companies and other corporations connect with companies interested in advertising locally or globally, is currently looking at an IPO in October, the person said.
Aleph had planned on an early-2022 offering before soaring inflation, rising interest rates and Russia’s surprise invasion of Ukraine stunned stock markets around the world and froze the IPO market. U.S. IPOs are on track to raise less money in 2022 than in any other year going back more than two decades, according to research firm Dealogic.
Aleph’s clients include Facebook, Twitter and Microsoft’s LinkedIn. It operates in more than 90 countries and is connected to thousands of advertisers, according to its latest regulatory filing with the Securities and Exchange Commission. In the six months ended June 30, Aleph’s net revenue rose to about $99 million, up from roughly $57 million in the same period last year, the filing shows.
Last year, Aleph was valued at $2 billion following a $25 million investment by e-commerce company MercadoLibre.
Some bankers say they think the first companies to reopen the IPO market should be must-own names and leaders in their specific industry. Even those will likely face a discount to recent funding rounds, these bankers say.
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September 01, 2022 at 02:15AM
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