IronSource is revolving around a major new company ahead of the IPO

Israeli company IronSource, a platform for game and app developers, spawned activities with dozens of employees in a new company at the end of 2020. The new company is called Rise. The company says on its website that its mission is “to empower our partners with the right technology and tools to maximize their digital properties and assets, while transforming their websites, applications and products into scalable businesses.” RELATED ARTICLES It’s official: ironSource for listing via SPAC at $ 11.1 billion, Rise has 30 employees, according to its LinkedIn page, most of whom are former IronSource employees, but Globes realizes that the number of employees may have already risen to 100. Rise is owned by the same Shareholders such as ironSource. In addition to increasing revenue from apps and websites, Rise is also involved in obtaining digital media based on algorithms. Activities are managed by Oren Brandt, who was responsible for ironSource digital solutions and served as vice president of online applications. The subsidiary offer occurred prior to IronSource’s approval to go public and the company explains the split as the separation of non-core activities. According to ironSource, employees who have moved to Rise keep their options at IronSource itself and can sell them as part of a planned IPO. Earlier this week, ironSource, led by CEO Tomer Bar-Zeev, announced that it would be merging into SPAC Thoma Bravo Advantage (NYSE: TBA) worth $ 11.1 billion. As part of the deal, the combined company will raise $ 2.3 billion, of which $ 800 million will go to the company and $ 1.5 billion to investors who sell shares in the secondary component of the deal. According to its latest presentation, IronSource has 750 employees other than the new company. Posted by Globes, Israel business news – en.globes.co.il – on March 24, 2021 © Copyright Globes Publisher Itonut (1983) Ltd. 2021