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IronSource Is Now Looking at $10 Billion IPO

Startup nation is a flush with multi-billion dollar exits these days.

Israeli startup IronSource which offers a multi-media platform now expects a valuation of at least $10 billion when it hold its initial public offering later this year. According to Bloomberg, the startup is now working with special purpose acquisition company (SPAC) Thoma Bravo on a merger for the IPO.

Thoma Bravo Advantage expects to raise about $1 billion in new equity to support a transaction which will leave the new combined entity with a valuation of more than $10 billion. This according to anonymous sources cited by Bloomberg. The terms of a deal, however, have yet to be finalized and it is still possible that one will not be made.

According to Investopedia, a special purpose acquisition company (SPAC) is a company with no commercial operations that is formed strictly to raise capital through an initial public offering for the purpose of acquiring an existing company. Also known as “blank check companies,” SPACs have been around for decades.

Startup nation is a flush with multi-billion dollar exits these days. eToro is also looking at a $10 billion valuation when it goes public. Israeli cybersecurity firm SentinelOne is also looking at a $10 billion IPO. Fundbox, and Israeli Fintech startup, is set for an IPO which the company hopes will give it a $1.5 billion valuation. Israel’s Payoneer Inc., a payment and commerce-enabling platform, is expecting a $3.3 billion valuation when it goes public. OrCam, Taboola and more expect multibillion IPOs as well.

In January Playtika, an Israeli mobile gaming company, hit an $11 billion valuation with its IPO.

Founded in 2010, ionSource offers a mobile ad mediation platform, mobile ad network, and a data-driven user acquisition platform for games which it boasts closes the monetization and marketing loop to empower game developers to turn their games into successful businesses.

The company boasts that it will help users better monetize their products by maximizing the value of their traffic “with premium global demand” for their inventory. ironSource boasts that it works with the top brands and advertisers globally and that its technology “makes sure you get the highest price for each impression. Increase your ARPDAU immediately with the highest eCPMs in the industry.”

The Thoma Bravo SPAC, an affiliate of the private equity firm that bears the same name, raised $1 billion in a January initial public offering. Orlando Bravo is the SPAC’s chairman and Robert “Tre” Sayle is CEO.



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