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Adtech firm Aleph withdraws IPO filing
  + stars: | 2023-07-18 | by ( ) www.reuters.com   time to read: +1 min
July 18 (Reuters) - Aleph Group Inc said on Tuesday it had filed to withdraw its IPO plans, citing "public interest and the protection of investors," more than a year after the digital advertising firm submitted paperwork to go public. Emerging markets-focused Aleph, which helps large digital platforms connect with advertisers and customers, counts Meta Platforms (META.O), Spotify Technology (SPOT.N) and Microsoft Corp (MSFT.O)-owned LinkedIn among its customers. Founded in 2005 as IMS Internet Media Services, Aleph was valued at $2 billion in 2021 after private equity firm CVC Capital Partners bought a stake worth $470 million. U.S. initial public offerings have seen a recent spurt after more than a year of lull as hefty interest rate hikes and worries of a recession dented investor appetite for new listings. Reporting by Mehnaz Yasmin in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.
Persons: Mehnaz Yasmin, Vinay Dwivedi Organizations: Spotify Technology, Microsoft Corp, IMS Internet Media, Capital Partners, U.S, Thomson Locations: Bengaluru
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