IGAWorks, Inc., the startup that recently became the “unicorn,” is poised for an IPO. The ad tech firm, a one-stop mobile marketing gateway in Asia, has hired Samsung Securities and Mirae Asset Securities to file a preliminary review application for listing in October this year.
Founded in 2006, the ad tech company offers global services for the smart success of digital marketing and mobile business. With 24 million active users including 16 million mobile gamers in its network, it covers 90% of Korea’s performance ad traffic. IGA Works offers cloud-based SaaS solutions such as Customer Data Platform (CDP) “Definery”, ATD (Advertising Trade Desk) “Trading Works” and big data analytics solution “Mobile Index”.
Through strategic alliances with major corporations such as KT and Shinhan Bank, the company is expanding beyond mobile into broadcast, finance, retail and offline. Currently more than 4,000 general businesses, various investment firms and government agencies use the IGA Works platform.
Revenue growth, profit and overseas expansion
IGA Works Group’s data-based advertising processing amount in 2021 has exceeded 495.1 billion won (US$381 million), and the compound annual growth rate (CAGR) for the past five years is 78.1%. Last year, the company reported consolidated sales of 181 billion won (US$139 million) and net profit of 5.3 billion won (US$4 million).
According to industry reports, the enterprise value of IG Works is expected to exceed 2 trillion won ($1.5 billion). IGA Works plans to actively participate in overseas mergers and acquisitions after the IPO to ensure global competitiveness and expand the market.
Ma Kook-seong, CEO of IGA Works, said, “We will provide online and offline infrastructure for digital transformation in the form of SaaS based on global best-in-class platform capabilities and unique data assets, while helping data-related decision-making to become a leader in national.” and international data industry.”
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