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Kaltura’s IPO targets $2.2 billion valuation

Company's prospectus reveals it expects to raise $353 million as part of the process

As part of its preparations for an initial public offering (IPO), video cloud provider Kaltura has announced it is targeting a $2.2 billion fully diluted market value.

As TVBEurope previously reported, Kaltura confidentially filed for an IPO on December 18, 2020. The company is looking to be listed on the Nasdaq Global Select Market.

Kaltura has now released its S-1 Prospectus, which reveals it expects to raise $353 million by offering 23.5 million shares at a range of $14-$16.

The company is attempting to take advantage of the growth of the online video platform market. The prospectus states Kaltura’s goal is to “power any video experience, for any organisation.” It adds that during the year ended December 31, 2020, more than 15 million authenticated users interacted with its products and solutions at home, at work and at school. As of December 31, 2020, Kaltura had grown its repository of media assets to over 100 million.

The prospectus also reveals Kaltura intends to enhance its Media Services offerings with additional core capabilities and invest in areas such as content creation, personalisation and interactivity, content aggregation and syndication, AI and smart monetisation. The company said it also plans to add these capabilities into existing and new products and industry solutions.

Kaltura’s clients include ViacomCBS, Reuters, Vodafone TV and Play Suisse.