South Korean ad-tech startup NBT, known for its innovative rewards-based mobile advertising solutions, is preparing for an initial public offering (IPO) later this year.
Market analysts expect NBT to be the third startup to achieve a unique listing after Flitto and Carriesoft.
NBT has made a name for itself in the ad tech industry with its rewards-based mobile advertising, which has been proven to generate greater user engagement and retention than traditional display ads.
Its flagship product, Cashslide, is the world's first service to use smartphone lock screens as advertising space.
The company also operates Adison, a real-time bidding mobile advertising network service that was named the fastest growing media by the AppsFlyer Performance Index Edition XI.
To differentiate itself in the competitive ad tech market, NBT guarantees marketers a cost per thousand (CPM) and cost per click (CPC), unlike other players in the space.
This guarantee is possible because NBT owns the publishing space for Cashslide.
In addition, Adison's experience with Cashslide allows it to filter out sensational or low quality ads, a fundamental weakness of real-time bidding.
The proposed IPO price per share ranges from KRW 13,200 (US$11.84) to KRW 17,600 (US$15.78).
If the IPO price per share is set at KRW 13,200 (US$11.84), the total estimated market value of the IPO will be KRW 183.5 billion (US$16.9 million).
The funds raised from the IPO will be used for mergers and acquisitions, targeting performance advertising agencies, content creation companies and e-commerce players.
This strategy is intended to solidify NBT's position as an ad-tech player with a comprehensive ecosystem.
However, NBT faces challenges. Flitto and CarrieSoft, the two companies with unique listings before NBT, saw their stock prices drop 56% and 59%, respectively, after going public.
To avoid a similar fate, NBT will need to demonstrate its profitability and growth potential in the public market.
