Zeta Global Holdings, which offers a customer data platform with automated marketing and advertising tools, announced terms for its IPO on Tuesday.
The New York, NY-based company plans to raise $250 million by offering 22.7 million shares (31% insider) at a price range of $10 to $12. At the midpoint of the proposed range, Zeta Global Holdings would command a fully diluted market value of $2.1 billion.
Zeta Global's Zeta Marketing Platform uses identity data to target, connect, and engage consumers across email, social media, web, chat, connected TV, video, and other channels. The company states that its marketing platform utilizes machine learning algorithms to predict consumer intent and increase engagement. Zeta serves more than 1,000 customers across various industry verticals, including 34% of the Fortune 100, and it delivered approximately 500 million ad impressions in 2020.
Zeta Global Holdings was founded in 2007 and booked $388 million in sales for the 12 months ended March 31, 2021. It plans to list on the NYSE under the symbol ZETA. Morgan Stanley, BofA Securities, Credit Suisse, and Barclays are the joint bookrunners on the deal. It is expected to price during the week of June 7, 2021.
