SimilarWeb current valuation
SimilarWeb completes its first day at the New York Stock Exchange at a valuation of $1.6 billion at the Israeli digital analytics company.
SimilarWeb completed its first day above the expectations of $19-$21 at $22 per share, which helped the Tel-Aviv-based company raise $165 million from the total of $232 million raised since 2009. If all goes as planned, they will raise another $24 million in the following 30 days.
The shares are available on the exchange since Wednesday 05/11 under the abbreviation SMWB.
This can come as a surprise and somewhat an act of bravery from SimilarWeb, taking into account all the attacks digital companies have been facing this year and in the previous year.
Analytics companies need to be very confident in their privacy policies and technologies they use to get listed. So, for this reason, we support and admire the courage SimilarWeb had.
SimilarWeb's competitive advantage
We can’t help but be proud of our fellow software enthusiasts back there in Israel and congratulates them for all the great products they offer.
After more than 12 years of experience and pioneering in the digital analytics industry, they finally made the major step of opening up towards the public. We expect to see some great new features soon with all the new funds coming in.
However, it will most likely take them some time to adapt to the overall change of scenario that being listed to the Stock Exchange entails.
Moreover, the way they ended their first day doesn’t take us by surprise, most likely neither of you. When a product with millions of users goes public, great things happen, and the market validates what investors knew all along.
If you are still not familiar with what SimilarWeb does, hope to our review section and check out all the features. But, above all, get acquainted with them through their free Chrome extension and freemium, and we promise you will fall in love with this product.
In conclusion, it is a great start for another tech company that has been making our lives easier over the years, not only through their tool but also through the insights shared.