The deal values it at about 2.8x revenue on an enterprise value to revenue basis.
Blis is 17 years old has 40 offices in five continents. Its clients include well-known brands like Unilever, McDonalds, Kraft, Netflix, HP, Starbucks, Coca Cola and Kellogg’s, according to the pitch.
It has positive EBITDA and cashflows.
It is expecting £52 million ($98.6 million) in revenue for FY22, which will be a 13% growth on the previous corresponding quarter.
The brokers told investors programmatic advertising is a US$150 billion market, which is grabbing market share from other forms of advertising.
They compared Blis to Trade Desk, which has a US$34 billion market capitalisation and trades at 24x its enterprise value to sales, and other comparable stocks like Magnite (US$ 4.3 billion market cap and 8x EV/sales) and Viant Technology (US$0.9 billion market cap and 5x EV/sales). All three are listed on the NASDAQ.
British programmatic marketing firm Blis pitches IPO to local fundies - The Australian Financial Review
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