Connect with us

Hi, what are you looking for?

Jewish Business News

Business

Israeli Video Startup Innovid Talking SPAC IPO Merger with Ion

Innovid expects more than a $1 billion valuation from its IPO.

Innovid CEO Zvika Netter (company PR pic)

Innovid, an Israeli startup in the field of video advertising, is planning an initial public offering through a Special Purpose Acquisition Company (SPAC). Calcalist reports that the company is in advanced negotiations to go public via a merger with ION Acquisition’s second SPAC. Innovid expects more than a $1 billion valuation from its IPO.

Investopedia explains that 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 (IPO) for the purpose of acquiring an existing company. Also known as “blank check companies,” SPACs have been around for decades.

Founded in 2007 by CEO Zvika Netter, CTO Tal Chalozin and Zack Zigdon, says that it is the only independent omni-channel advertising and analytics platform built for television. The company uses data to enable the personalization, delivery, and measurement of ads across the widest breadth of channels in the market including TV, video, display, social, audio, and DOOH. It boasts that its platform “seamlessly connects all media, delivering superior advertising experiences across the audience journey.” Innovid serves a global client base of brands, agencies, and publishers through over twelve offices across the Americas, Europe, and Asia Pacific. It clients include Fox, Samsung and Hulu.

ION Acquisition is led by co-CEOs Gilad Shany and Avrom Gilbert, and Chairman Jonathan Kolber. The company announced over the weekend the listing of its third SPAC on the New York Stock Exchange. And Ion has already merged with Israeli company Taboola ahead of its IPO.

Innovid is another one of the many Israeli companies to announce plans for an IPO this year with the expectation that it will end up with a multi-billion dollar valuation. Some of these firms are already worth more than $1 billion and so they are known as unicorns. Among the other Israeli companies on the list are Nayax Ltd., an Israeli Fintech startup, Valens, an Israeli provider of semiconductor products, and Fundbox, an Israeli Fintech startup.

There are also a number of Israeli companies looking to IPOS with an expected valuation of up to $10 billion. Israeli fintech startup Pagaya expects an $8 billion valuation from its IPO.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Newsletter

Advertisement

You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...

empty

The contract signed between the Israeli government and Pfizer shows clearly and unequivocally that this is a clinical study on humans - The agreement...

Travel

After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

Business

Now Platika joins and elite club of $10 billion plus Israeli firms.

Advertisement