Rokt is an e-commerce tech company founded by the former Jetstar CEO back in 2014.
Background: Rokt is an e-commerce tech company founded by the former Jetstar CEO back in 2014. It lets advertisers get exposure to new customers via partner websites.
What happened: So, if you were to book a flight with Qantas to Sydney...you might be shown deals for hotels or car rentals. You can thank Rokt for that. It's so successful because it knows the customer's buying intention is high in that moment.
What else: This crew have plans to IPO in the US in 2023. And to prep for this, Rokt raised a record $$458 million in pre-IPO capital. It's the largest single venture capital raise in Aussie history. Wawaweewa!
💡Pre-IPO capital is money raised by a company in the lead up to its planned IPO because generally a company wants to accelerate its growth numbers before it goes public (and it needs capital to do that).
💡This process starts anytime from 3 months to 18 months before the company's planned listing. But these can be pretty risky for investors.
💡Pre-IPO capital raises are offered without an official prospectus for the IPO. There's also no guarantee when - or if - the company will actually IPO. So sometimes, shares are offered at a discount to the planned IPO price.
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