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Sansan seeks USD 1.2bn valuation in IPO
Posted on Friday, 07 June 2019 12:57
Sansan has set a price on an initial public offering (IPO) on Tokyo Stock Exchange’s Mothers market that values the whole of the Japanese business card management startup at JPY 134.69 billion USD 1.24 billion.
The multi-platform, cloud-based business contact and professional social network platform will sell 7.01 million existing shares and 500,000 new stocks at JPY 4,500 (USD 41.56) apiece for a total JPY 33.80 billion.
Nomura is lead underwriter on the debut set for 19th June, which Zephyr, the M&A database by Bureau van Dijk, shows is among the top 50 listings at home or abroad by a Japanese company in the last five years alone.
The deal also ranks among the country’s top 100 largest-ever IPOs, ahead of Katitas’ float in December 2017 worth USD 304.14 million and behind Industrial & Infrastructure Fund Investment’s admission to trading in 2007 that fetched USD 323.45 million.
Founded in 2007, Sansan has developed software that enables users to scan business cards - either via a mobile phone or a device set provided – to create a complete information database that helps companies track job changes.
Once the physical paper is turned into a digital format, the Tokyo-based startup analyses it to make sure the data is correct and so people can discover who within a company knows whom.
By tracking relationships every time a contact changes hands, the cloud-based software can generate sales and marketing leads, or suggest go-betweens for any deals.
Sansan protects the privacy of its users as it does not share data with any third-parties, nor does it make money from the information in any way.
The company raised JPY 3.00 billion in a series E funding round led by Japan Post Capital, T Rowe Price, SBI Investment, and DCM Ventures, at the beginning of December 2018.
At the time, over 7,000 companies worldwide, including Lenovo, Merck and Seven & i Holdings, had used the service.
© Zephus Ltd