Online marketer Pureprofile lists on the ASX today after raising $12.1 million.
Underwritten by Blue Ocean Equities, 24 million shares in founder and CEO Paul Chan’s company were issued at 50 cents a piece.
“Today marks an important milestone for the Company. We are excited by the opportunity this brings as we embark on our next phase of growth as a newly listed entity,” Chan said.
Founded 15 years ago, Pureprofile pays consumers to participate in surveys. The results are then sold as advertising insights. The company focusses on online market research, publisher licensing and programmatic trading of display ad inventory.
About $4 million raised in the IPO will be used to expand partnerships and market footprint as well as improve the product.
The first international expansion step is building out its New Zealand operations, which will be backed by a partnership with AA Smartfuel and its acquisition of Sparc Media. It’s also looking at expanding into programmatic media sales and extending a licensing agreement with News Ltd.
“With the acquisition of Sparc we expect to accelerate our move into media buying and programmatic trading, expanding our offering to our global client base,” Chan said.
With more than 110 staff, Pureprofile now has some one million account holders across the world. Revenues for FY16 are forecast to nudge $28 million, a 36% year-on-year increase.
“￼To date, we have been successful in building a strong and sustainable platform for the consumer profile market and we are well positioned to continue to scale across existing and new markets,” Chan said.
LinkedIn Australia MD Cliff Rosenberg and Leo Burnett UK CEO Andrew Edwards both hold board positions.
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