Caltura completes the flotation at a price of 1.34 billion dollars

Success on the second try: Israeli technology company Kaltura floated on Nasdaq for $1.24 billion. The company raised $150 million. The float was at $10 a share, in the middle of the price range set by the company. The raised amount would increase by $22.5 million if the underwriters exercised their option to buy more shares at the offer price over the next 30 days. The shares are scheduled to be listed for trading on the Nasdaq Global Select Market today under the symbol KLTR and the offering is expected to close on July 23, under usual closing conditions. This is the eighth IPO of an Israeli company on Wall Street so far this year. Kaltura provides video management solutions for businesses and media companies. It embarked on a public offering in early April, but had to delay the offering due to low demand. Ron Yechotel, CEO of Kaltura told Globes today, “We are thrilled with the initial public offering. The week we started the IPO, the global stock offering market, unconnected to Kaltura, collapsed after 14 months of success in the primary market. It’s been a bad week and like when you go to the beach and the waves are really high don’t commit suicide we decided to wait.Since then we released our second quarter results and we’ve grown 40% exceeded expectations and accelerated the growth rate – and we waited for the right time.Wait was only three months, Which shows that the company was ready, and it was just about the market and not the company. We changed the pricing slightly in order to have a bigger margin of error.” Kaltura was founded by Yekutiel, Dr. You are just doing the initial public offering (IPO). In the initial IPO attempt, a $90 million offer was planned for sale, but this was canceled on the second attempt. “Shareholders are far from under selling pressure,” Yekutiel says. “Selling the shares was not a goal, it was simply a request by the bankers to create a greater flow of shares.” Yekutiel says the company is seeing growth momentum and will hire more people, having only recently expanded its business. “The company is growing fast,” he says, “Kaltura develops video products for enterprises, a very broad and flexible platform, like Lego for video: a variety of different products for different video purposes, like teaching or sales and marketing.” The system uses all sorts of capabilities of video, real-time, and live, on-demand. The proceeds from the IPO will be used to accelerate marketing and sales. “So far we’ve invested more in development than marketing, and despite that we have accelerated our growth,” Yekutiel says. Now, from a position of strength, we will increase investment in marketing.” The company also intends to expand into artificial intelligence, to launch new products, and to enter new markets, among them telemedicine. “The video revolution has only just begun,” Yekutel says. Institutions, they are only scratching the capabilities of video. Coronavirus is accelerating trend, raising awareness, and budgets.” Is Zoom a direct competitor?” “An indirect competitor, and there is also cooperation between us. Zoom or Teams are collaboration tools. We don’t try to replace it in institutions. With us, video is a way to learn, market and implement customer service – more integrated highly connected products into an enterprise. In many cases, content created on Zoom goes to our platform, which manages all videos in the enterprise. And so in the coronavirus pandemic, as the use of Zoom has increased, so has the use of Kaltura with We Will.” Notable Kaltura contributors are: Point 406 Ventures ($176 million); Nexus India ($160 million); Goldman Sachs ($144 million); Yekutiel ($77 million); Tzur ($52 million); David ($50 million) Published by Globes, Israel business news – en.globes.co.il – July 21, 2021 © Globes Publisher Itonut (1983) Ltd. 2021