Israeli company Crossrider, a provider of digital marketing and advertising services, is planning to go public on the London Stock Exchange. Scheduled for September, the IPO is expected to raise $50-60 million.
The IPO, it is hoped, will leave the company with a valuation of between $200 and $250 million. The company intends to use the funds that it will raise for its own growth investment.
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Crossrider monetizes media through Big Data. Its data acquisition and media monetization derive from four product lines and services, forming a unified offering of improved Return on Investment (ROI) for advertisers and better monetization for publishers through the use of Crossrider’s collective insights. Its main products are the Cross-browser Web Apps & Extensions development platform, Mobile ad-server and media buying platform and the Media buying and selling agency.
The company enables developers to build extensions that run all of the most commonly used Internet browsers. The platform provides several tools that make designing, creating and publishing extensions quick and easy. Additionally, the platform is free to developers that are not using their own monetization tools.
Since its inception, Crossrider has grown to more than 30, 000 developers creating extensions on their platform and over 700 million users utilizing them.
It is a cloud based system and so its clients do not need to download and install complicated programs.
One of the company’s biggest clients is the Spanish FC Barcelona soccer team, which partnered with it to develop an app with which to better communicate with its fans.
The company was founded in 2011 by Shmueli Ahdut and Koby Menachemi, both formerly of Seeking Alpha, and has its official headquarters in London.
Teddy Sagi’s Markets acquired Crossrider in December 2012 for $37 million. In May Sagi, the Playtech Cyprus Ltd. controlling shareholder acquired two Israeli start-ups Definiti Media and Ajillion for about $15-20 million each. He folded both into Crossrider.
Crossrider will be the third company to be floated on the London Stock Exchange owned by Israeli Tedi Sagi along with Playtech and SafeCharge.
