Central regions | Finance, business | Telecoms, media
Online advertiser SeoPult raises funds and gears up for IPO
29 Aug '12
As innovation news portal Venture Business News reports, SeoPult, a Russian online advertisement service that just a month ago raised $10m in venture investment from iTech Capital, a VC investment fund, is gearing up for an IPO. The source cites a statement by Nikolai Yevdokimov, SeoPult’s strategic director, co-founder and co-owner.
The company’s short-term plans are arranging for another round of investment, the last prior to its IPO, Mr. Yevdokimov said, giving no specifics as to how much and when SeoPult will seek new investment.
According to him, new funds are needed to increase the share of context ads in overall turnover and orchestrate expansion to new market. Earlier this year, in February, the company already reportedly entered the Polish online advertisement market; according to Mr. Yevdokimov, SeoPult is already growing there “…at a rate of 50% a month.”
Longer-term plans include expansion to the Asian markets, primarily Thailand and Indonesia, and the establishment of a stronger presence in the existing European markets, Germany and Spain first and foremost, the source said.