
PE-backed China online marketing player files for US IPO
China-based online digital marketing business iClick Interactive Asia, which is backed by Bertelsmann Asia Investments (BAI) and SSG Capital Partners, has filed for an IPO in the US.
The company’s disclosure does not indicate the size and pricing of the offering, or whether any existing investors will sell shares. BAI is the largest individual shareholder with a 13.7% stake, although three executives, including the founder and CEO, control 26%. SSG has 10.4%, while other external investors include Sumitomo Corporation and BlueFocus Communications Group.
IClick claims to be China’s largest online marketing technology platform by gross billing. It helps companies – including over 150 multinationals – devise cost-effective ways to optimize online marketing efforts. Most of its gross billing comes from direct marketer clients, while revenue is generated through marketing expenditure by those clients on the platform.
IClick’s solutions are based on a large consumer data set comprising individual user profiles that track everything from demographics to spending history to online behavioral patterns. This information is used to engage potential customers across multiple channels, such as mobile apps and websites.
Gross billing came to $236.3 million in 2016, up 32.5% on 2015. Over the same 12-month period, revenue increased from $65.2 million to $94.4 million, while the company’s net loss narrowed to $27.3 million from $39.7 million.
According to AVCJ Research, Sumitomo invested in iClick in 2010 and then re-upped the following year in a round that also featured BAI and SSG. The size of these investments was not disclosed. BlueFocus committed $60 million in 2014 for a 14.59% stake in the business. In 2015, iClick acquired mobile advertising solutions provider OptAim, which was also backed by BAI.
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.