Web advertiser Criteo files for IPO
France-based web advertising firm Criteo filed for an USD 190 million initial public offering in the US. A regulatory filing revealed that the company intended to seek a listing in the Nasdaq Stock Market this year. No date, however, was set for the IPO. Lenders JPMorgan Chase & Co, Jefferies Group and Deutsche Bank would be leading the public offer.
In April, a source told Bloomberg that Criteo could seek to raise as much as USD 2 billion in the IPO. Bloomberg reported that the USD 190 million offering merely served as the placeholder amount for computing registration fees. It could change.
Criteo said it intended to use the proceeds of the IPO for research and development purposes as well as for its capital expenditures. It would also be using the funds to spur its sales and marketing efforts and for other general business purposes.
Criteo's posted revenues or EUR 271.9 million, which represented an 89% increase, last year. Late in 2012, Criteo gathered EUR 30 million from various investors.