Kaltura has postponed its initial public offering, due to take place on the Nasdaq on 1st April, reportedly due to lack of interest.
The company had intended to go public at a $2.2 billion valuation, but reports suggest Kaltura received indications that it is likely to fall well short of expectations should it move ahead with its plans.
As TVBEurope previously reported, Kaltura had announced it was targeting a $2.2 billion fully diluted market value. It hoped to raise $353 million by offering 23.5 million shares at a range of $14-$16.
According to reports, Kaltura had decided to reduce the amount of shares on offer to 17 million, however the company received indications that this wouldn’t be enough to make the IPO seem more alluring, resulting in the postponement.
Kaltura has since said that the price and valuation haven’t changed and that the IPO process is ongoing.