SimilarWeb Ltd., an analytics startup that counts greater than half of the Fortune 100 as clients, is reportedly planning an preliminary public providing for the second quarter of 2021.
The startup joins a rising record of knowledge analytics suppliers which might be anticipated to record their shares subsequent 12 months.
Israeli enterprise publication Calcalist reported the corporate’s plans earlier at the moment. SimilarWeb is anticipated to go public on the Nasdaq inventory change at a $2 billion valuation, with JP Morgan appearing as lead underwriter. It’s unclear how a lot the corporate is hoping to boost from buyers.
Tel Aviv-based SimilarWeb offers an analytics platform that allows customers to see how a lot site visitors a web site or cell app receives. The platform has a free model that gives high-level statistics such because the variety of month-to-month guests to a web site and the way common it’s relative to the competitors. For enterprises, SimilarWeb affords paid tiers that present extra granular information on on-line exercise patterns.
SimilarWeb allows corporations to determine the channels which might be driving probably the most site visitors to their web sites and cell apps to tell their advertising actions. For instance, if the platform exhibits that numerous customers discover an e-commerce retailer by wanting up a sure key phrase in Google, the shop’s operator might place extra adverts above searches that include the key phrase.
SimilarWeb additionally offers clients with entry to information concerning the site visitors headed to different corporations’ on-line properties, a characteristic that lends itself to a broader set of use circumstances. The platform allows manufacturers to control opponents’ on-line advertising efforts. Gross sales groups, in the meantime, use particulars that SimilarWeb aggregates from company web sites to help deal-making efforts, whereas buyers can use the platform to offer them a fuller image of companies they’re taking a look at backing.
SimilarWeb counts massive names equivalent to Walmart Inc., Google LLC and Adidas AG as clients. The report that the startup is laying the groundwork for an IPO comes simply months after it closed a $120 million funding spherical led by ION Crossover Companions and Viola Development. SimilarWeb Chief Government Officer Or Supply informed TechCrunch on the time, in response to a query concerning the startup’s IPO roadmap, that ”we’ll pursue no matter we really feel is critical to develop.”
SimilarWeb wouldn’t be the primary analytics supplier to begin preparations for a 2021 itemizing. SAP SE’s Qualtrics unit, which offers software program that allows corporations to gather and analyze information on buyer sentiment, is planning to go public on the Nasdaq at a valuation of as much as $14.four billion. Qualtrics had initially sought to carry an IPO in 2018 however the firm determined to simply accept a $eight billion acquisition supply from SAP as an alternative.
It was reported in October that machine studying and analytics supplier Databricks Inc. is eyeing a 2021 itemizing as effectively. The IPO is anticipated to offer the corporate a considerably greater market capitalization than its final personal valuation of $6.2 billion.
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