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Moloco Taps Top Banks for IPO Launch
14 Feb
Summary
- Moloco has engaged Goldman Sachs and JPMorgan for its IPO.
- The ad-tech firm was valued at over $2 billion in 2023.
- Founded in 2013, Moloco uses AI in its advertising platform.
Advertising technology company Moloco is reportedly making preparations for an initial public offering (IPO). The firm has appointed major financial institutions, Goldman Sachs Group Inc. and JPMorgan Chase & Co., to lead the arrangements for its first-time share sale. These deliberations are currently ongoing, with the possibility of additional banks joining the syndicate.
Moloco, an acronym for "machine learning company," was founded in 2013 and is based in California. The company's primary offerings include an AI-powered advertising platform and a service for monetizing streaming content. Moloco has previously worked with notable brands such as Fanatics Inc. and Wayfair Inc.
In 2023, Moloco achieved a valuation of over $2 billion following a secondary share sale. Investors in the company include prominent firms like Tiger Global Management and Fidelity Management & Research Co. The CEO, Ikkjin Ahn, has a background as YouTube's first machine learning engineer for monetization.
