28th Jun 2021 11:51
(Alliance News) - Silver Bullet Data Services Group PLC started trading on London's AIM market on Monday after raising GBP9.5 million in its initial public offering.
The cash will be used to win new clients and to roll out Silver Bullet's 4D software product, which provides targeted advertising without the use of third-party data or cookies.
Silver Bullet Chief Executive Ian James told Alliance News that "the business operates in data transformation space, working with clients such as Heineken, Jagermeister, ITV, Channel 4, to help them to use data in a smarter way to get better returns on investments in the marketing space."
The London-based company's placing price was set at 257 pence per share. The price rose 6.4% to 273.47p in trading on Monday, giving Silver Bullet a market capitalisation of GBP36.7 million.
"We were encouraged to list in our home market," said James. "There was always temptation to list in the US market, as we are a fast-growth stock and US market is a traditional home for that type of organisations, but AIM really suits us. AIM we think is a fantastic environment for a fast-growth stock."
Silver Bullet has 62 employees and offices in the US, Italy, Australia and Germany.
"We have a base in London," James continued. "We also have a base in mainland Europe, in Munich, and Melbourne, which we are looking to expand."
James noted that Silver Bullet launched its first product, called 4D, 18 months ago and is now offering it alongside services. He highlighted that privacy regulations have changed across the globe, including in the US. Therefore, the Silver Bullet boss believes that there is a "huge space for expansion to the sector that has been left behind by cookies".
Cookies enable web servers to store information about a user's device or to track the user's browsing activity.
James said that when privacy regulations change, it enables the company to launch new products.
In the UK, Alphabet Inc's Google is facing scrutiny from regulators. The Competition & Markets Authority said it will take up a role in the design and development of the search engine's Privacy Sandbox proposals to ensure they do not distort competition.
The move follows a CMA investigation - launched in January - into Google's proposals to remove third-party cookies and other functionality from its Chrome browser.
By Evelina Grecenko; [email protected]
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