Cultura Arrives at Nasdaq at A Value of More than $ 1 Billion
The Israeli video company will try to raise $ 100 million; Its revenue in 2020 was $ 120 million. The company, founded in 2006 by Ron Yekutiel, Michal Tzur, Shai David and Eran Eitam, is a world leader in video management in organizations and employs about 600 employees, half of them in Israel.
The company employs 600 people, half of them in Israel, including the R&D department, which has offices in Ramat Gan. The company also has offices in London, New York and Singapore, and is managed by Ron Yekutiel. The company has raised more than $ 160 million from investors such as Goldman Sachs, Nokia. SAP, Intel and Mitsui.
In a prospectus published, Kaltura reported revenue of $ 35 million in the fourth quarter of 2020. In 2019, the company’s revenue was approximately $ 97.3 million. The company posted an operating loss of $ 8.1 million in 2020, compared to a loss of $ 2.8 million in 2019. Along with the operating loss, the company reports an EBITDA profit of $ 4.3 million in 2020 – a slight increase compared to 2019. The company also reports an interesting statistic, according to which there was a decrease of about $ 1.7 million in flight and marketing expenses due to the corona.
Kaltura operates in two main areas: the media sector and the education sector and organizations. The prospectus shows that the field of education and organizations is the dominant field in terms of the company’s revenues, which generated revenues of about $ 80.4 million. In the field of media, the company recorded revenue of about $ 40 million. The company’s R&D expenses amounted to $ 29.5 million in 2020 – an increase of about 22% compared to 2019. Among the company’s customers: Oracle, Berlitz, Wells Fargo, Bloomberg, Vodafone and more.
Cultura Arrives at Nasdaq at A Value of More than $ 1 Billion - /10