Will Pubmatic be Pune’s First Software Product Company IPO?
Online ad optimization platform maker, PubMatic, which is developed wholly out of Pune, has just hired Steve Pantelick, a CFO who specializes in preparing companies for an IPO, reports VC Circle.
Earlier, Business Insider ran a story claiming that Pubmatic had gotten an offer of $300 million from Amazon, but turned it down in favor of going for an IPO.
Pubmatic is doing extremely well, as seen in this excerpt from the VC Circle article:
PubMatic acquired ReviNet, a US-based advertising optimisation company in May this year. It recently expanded to Europe and launched more data management and mobile products. Its GAAP revenue has risen 33 times in the past two years and by 51 per cent between the second and the third quarter of this fiscal year.
If Pubmatic does indeed go for an IPO, it will the first mostly-Pune-based software product company to do so. While last year’s Persistent IPO was many years in the making, Pubmatic is just 5 years old, and will be a great source for inspiration for technology startups in Pune.
Pubmatic has been one of PuneTech’s favorite Pune startup companies, and we’ve been covering it (see here and here) since our first month of operation in 2008. We wish it good look, and hope that this is just a first in the series of Pune IPOs
Update: Reader V. Krishna points out Kale Consultants was probably Pune’s first software product IPO. Kale Consultants provides solutions to the airline and travel industry, and has a mix of products and services, so it is indeed, arguably, Pune’s first Software Product Company IPO.)