Matomy Media Group Ltd., formerly Adsmarket, recently met with investment banks to underwrite the company's planned IPO on Nasdaq at a company value of $300 million. The company plans to raise tens of millions of dollars, but the date of the offering is still uncertain.
On the one hand, this is a good time to exploit Wall Street's hunger for offerings by Internet companies, as shown by Linked-In, Groupon, and Zynga. On the other hand, Matomy would have preferred to wait and let the company consolidate and grow. Therefore, it cannot be ruled out that the meeting with the investment banks will result in an IPO only in late 2012 or 2013.
Matomy was founded in 2006 by Ofer Druker and Adi Orzel. The company has 200 employees. Matomy Media Group has several subsidiaries, all bearing the Matomy brand, following a brand consolidation. The companies engage in a range of advertising fields: results-based ads; ad campaign optimization processes; online ad arenas; and alternative payment solutions for online games.
Matomy Media Group CEO Ofer Druker says that the company expects to reach $100 million revenue this year, 40% growth over last year. He expects earnings before interest, taxes, depreciation and amortization (EBITDA) of $8 million.
Matomy operates in Europe, Latin America, and Africa. McCann Erickson Israel owner Ilan Shiloach is the largest shareholder in Matomy, with a 28% stake, and Viola Private Equity owns 21%.
Published by Globes [online], Israel business news - www.globes-online.com - on July 11, 2011
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