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WIKI ANALYSIS
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This company completed an initial public offering (IPO) of its stock in 2010. View articles that reference this company. Recent IPOs: Globe Specialty Metals • LogMeIn • Invesco Mortgage Capital • Medidata • Chemspec |
Velti (NASDAQ:VELT) is a mobile advertising company which makes money through its marketing and advertising platform. This Software as a Service platform allows advertising agencies, mobile operators, and media companies to implement, monitor, and optimize campaigns. During the first 9 month of 2010, 13 of the 20 largest mobile operates in terms of worldwide subscribers used Velti's platform which reaches approximately 2.5B customers. Velit also runs platforms which allow customers to design websites and build mobile applications.[1]
Velti believes it runs the most comprehensive mobile advertising platform and that it is well placed to take advantage in the continued growth in mobile advertising. According to ABI Research, spending on mobile marketing and advertising worldwide is predicted to increase from $1.64B in 2007 to $29B in 2014. This growth would corresponds to a roughly 150% Compounded annual growth rate - CAGR. Despite the expected growth, mobile advertising has faced challenges due to the difficulty in measuring the true performance of a campaign and regulations which protect consumer data.[2]
The company's initial public offering of stock on the NASDAQ occurred on January 27, 2011. The company offered 12.5M shares each for $12. This was above the initial price range of $9-$11. The final deal raised $150M in total. The lead underwriter of the deal was Jefferies Group (JEF).[3]
Velti's revenue for the full year 2009 was $90M. This was a 45% increase over the previous year. For the first 9 months of 2010, the company reported an unaudited total revenue of $59M. Net income in 2009 was $6.5M, an increase over the net loss of $6.1M in 2008. During the first 9 months of 2010, Velti reported a net loss of $17.7M.[4]
References
- ↑ Velti F-1/A 2011 PROSPECTUS SUMMARY "Overview" pg 1
- ↑ Velti F-1/A 2011 PROSPECTUS SUMMARY "The Industry and its Challenges" pg 2
- ↑ Renaissance Capital - IPO Home "Velti prices IPO at $12, above the range" 27 Jan 2010
- ↑ Velti F-1/A 2011 PROSPECTUS SUMMARY "Summary Historical Consolidated Financial Data" pg 7
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