Video cloud provider Kaltura has lowered its market value expectation ahead of its forthcoming listing on the Nasdaq.
When it first announced plans to launch its IPO in March, Kaltura said it was targeting a $2.2 billion fully diluted market value.
However, the company ended up pulling the planned launch as it was expected to fall well short of expectations.
Kaltura then revived its IPO listing plan in May, and now hopes to raise $135-165 million at a share price of $9-$11 and a valuation of $1.1-$1.4 billion.
Goldman Sachs and BofA Securities are the listing’s lead underwriters.