Tel Aviv, Israel, 17th May 2021: Digital Analytics firm Similarweb announced the trading of its initial public offering on the New York Stock Exchange.
An aggregate of 8,000,000 ordinary shares were sold at a price to the public of $22.00 per share in the offering. Similarweb offered 7,500,000 ordinary shares and the selling shareholder named in the prospectus offered 500,000 shares.
In addition, Similarweb has granted the underwriters a 30-day option to purchase up to an additional 1,125,000 ordinary shares at the initial public offering price, less underwriting discounts and commissions.
Founded in 2009, Analytics firm Similarweb raises $180 million at a valuation close to $1.6 billion. The shares are begin trading on the New York Stock Exchange under the ticker symbol “SMWB.”
In 2020, SimilarWeb posted revenue of $93.5 million up from $70.6 million in 2019, and a net loss of $20 million for the year, compared to a loss of $17.7 million in 2019. The Tel Aviv-based company employed 576 employees.