Blog Post

Internetq: UK IPO Pegs Mobile Marketing Company At $50 Million

Internetq, a mobile marketing company that works with operators, media companies and brands in Europe, the Middle East and Latin America, has listed on London’s AIM, valuing the company at £31 million ($50 million). The listing, made in what is still a difficult time for the IPO market, underscores how marketers have been one of the more obvious, if modest, winners in the mobile data explosion.

For the first half of 2010, Greece-based Internetq generated an EBITDA of €2.6 million ($3.45 million) on revenues of €18 million ($24 million). Since June 30, 2010, the company had revenues of approximately €12.6 million ($16.7 million) for the four months to 31 October 2010, according to a statement from Jendens Securities, who advised InternetQ on the IPO.

The placing involves the issue of 5,641,025 placing shares to raise gross proceeds of £6.8 million, which Internetq says it will use to expand its operations in key markets and beef up its mobile marketing interactive platform.

Companies like Internetq have risen to the fore in the mobile data explosion, as a range of brands — mobile and otherwise — continue to look for the best way of using the medium to engage with consumers and convert that engagement into actual business.

Among its clients, Internetq lists a range of operators, including Orange, Russia’s Vimpelcom and Vodafone; (NYSE: VOD) as well as media and other brands, such as MTV, Nickelodeon and Axel Springer. Internetq says it helps develop specific mobile media services and marketing campaigns and then helps distribute them to users.
In all, its marketing network includes 55 mobile network operators in 24 different countries, providing a reach of 573 million mobile subscribers worldwide.