SimilarWeb IPO: Founder Or Offer to sell $10 million worth of shares
The Israeli company has filed its amended Form F-1 with the SEC and revealed that it intends to raise $160 million in its offering, valuing the company at $1.7 billion
Meir Orbach | 20:23 03.05.2021
Israeli company SimilarWeb has filed an amended Form F-1 with the U.S. Securities and Exchange Commission ahead of its initial public offering on the New York Stock Exchange. The company, founded by Or Offer in 2009, plans to raise $160 million, setting the price of a single share at between $19 and $21 to give it a valuation of $1.7 billion. The shares are expected to trade on NYSE under the ticker symbol “SMWB.” J.P. Morgan, Citigroup, Barclays, and Jefferies are acting as joint book-running managers. JMP Securities, Oppenheimer & Co., and William Blair will act as co-managers for the proposed offering. SimilarWeb has developed a way to measure and predict customer behavior in the digital era. Its tools are used by large, leading brand name companies to analyze customer behavior and compare it to their competitors. The company’s technology gathers information from hundreds of sources and uses them in advanced machine learning algorithms to provide a complete picture of digital activity in real-time. SimilarWeb says that more than half of the Fortune 100 companies, such as Walmart Inc, Google LLC, P&G, and Adidas AG, rely on these tools to gain digital insights.