With a number of IPOs expected to be made available this week, Maxim Manturov, Head of Investment Research at Freedom Finance Europe, advises on his top IPOs to watch out for this week
“This week will see a number of different IPO’s hitting the market and with so many to choose from I have outlined my top IPOs for this week. SimilarWeb and Global-E both bring something innovative and unique that makes them stand out in two very competitive markets,” explains Maxim Manturov, Head of Investment Research at Freedom Finance Europe.
#IPO 1 – SimilarWeb
“Founded in 2007, SimilarWeb, has developed a way to measure and predict customer behaviour in the digital era. The company’s technology gathers information from hundreds of sources and uses them in advanced machine learning algorithms to provide a complete picture of digital activity in real-time. This explains why its tools are used by large, leading brand name companies to analyse customer behaviour and compare it to their competitors.
“Since its inception, the Tel-Avi based organisation has built a strong customer base that spans across the globe and according to SimilarWeb, more than half of the Fortune 100 companies, such as Walmart Inc, Google LLC, P&G, and Adidas AG, rely on these tools to gain digital insights. On top of having a strong customer base, it has also raised $240 million since 2007. Its backers have included ION Crossover Partners and Viola Growth, from whom it raised $120 million in October 2020.
“SimilarWeb expects to live up to its reputation and intends to raise $160 million by offering 7.5 million ordinary shares, and a selling shareholder will be offering 500,000 ordinary shares. The initial public offering price is expected to be between $19 – $21 per share. That would value the digital data analytics company at more than $1.5 billion at the pricing midpoint.
#IPO 2 – Global-E
“Global-E, which provides brands and retailers with end-to-end localised cross-border e-commerce technology, is another company I advise to watch out for this week. Global-E is looking to raise $360 million by offering 15 million shares at a price range of $23 – $25.
“Global-E was founded in 2013 and has developed a platform, which it says removes obstacles in buying online from abroad. The platform allows communication with buyers in 25 languages and purchases in more than 100 currencies while calculating local sales taxes. Although it is based in Israel, just about 1% of its business comes from the home market. More than half of its business comes from the UK. It employs 300 people across the UK, Israel and some other countries.
“The company has come a long way since being founded and now works with more than 440 global brands and retailers across the US, Europe and Asia, including Marks and Spencer, Harvey Nichols, and Reformation.”