As data intelligence startup Near lists on Nasdaq via SPAC at a $1B market cap, are you looking to understand its significance?
With 1.6 billion anonymized user IDs and access to its vast consumer data, Near’s journey has been remarkable. Let’s dive into the details and determine how this move can redefine the entire data industry.
Introduction: Near’s Listing on Nasdaq via SPAC
On Tuesday, data intelligence startup Near Ltd became the latest technology unicorn to go public. Near was valued at $1 billion as it listed on Nasdaq via a SPAC––a special purpose acquisition company, in this case blank check firm Social Capital Hedosophia Holdings Corporation V (IPOE). The listing comes after Near raised $100 million in a private placement.
Near is a data intelligence platform that uses an AI-powered graph of 3rd party and 1st party user data to figure out patterns across different screens and channels. As a result, it allows reaching potential customers no matter where they are. Through its graph platform, Near collects insights on over 1.6 billion anonymized user IDs worldwide that it can then use to better target potential customers.
The listing will also provide additional flexibility as the company looks to expand its portfolio with acquisitions, hire new talent and invest further in research and development activities. This positive news for the company highlights another success story within the technology industry of leveraging SPACs as an alternative route for companies looking for more direct pathways to go public.
Overview of Near: Data Intelligence Startup
Near is a data intelligence startup leveraging location signals from its 1.6 billion anonymized user IDs to build marketing solutions for brands, agencies and publishers. Founded in 2012, the company provides insights into offline behavior such as footfall, store visits, and duration. Its team of over 100 works from San Francisco, Tokyo, Singapore, Australia, London and India offices.
Near’s data intelligence platform enables businesses to analyze millions of signals daily to engage better with customers. The platform also incorporates data from public sources such as census data and global time zones for better accuracy of results across regions. Additionally, Near allows users to leverage AI-powered insights to understand how different campaigns influence store visits and sales performance across retail, telco or banking industries.
Today the company has announced a major milestone with an equity carveout – listing its shares on Nasdaq via SPAC (special purpose acquisition companies), which raises $100 million at a $1 billion market cap valuation! Through this new capital infusion, Near will accelerate innovation by growing its product offering – helping brands maximize return on investment through highly targeted campaigns rooted in location-data.
Data intelligence startup Near, with 1.6B anonymized user IDs, lists on Nasdaq via SPAC at a $1B market cap; raises $100M
Data intelligence startup Near, with 1.6 billion anonymized user IDs, listed on Nasdaq via SPAC at a $1 billion market cap and raised $100 million in public funds.
Near’s data intelligence engine is a catalyzing feature of their platform that enables large-scale distributed computing to manipulate data while protecting the privacy of individuals according to its Privacy Shield Program. By aggregating and correlating large-scale data sets, they can uncover actionable findings for advertisers concerning audience behavior and engagement patterns across digital media platforms such as OTT devices, mobile applications, websites, video platforms and social media networks.
Their partnership with SPAC also provides access to capital for growth opportunities, making them more competitive in the data intelligence industry through enhanced infrastructure, regional expansion and additional partnerships worldwide. With their 1.6B anonymized user IDs from more than 195 countries and 3+ terabytes per day being processed on their platform, Near is an enterprise paving the way for granular insights into understanding global trends at scale with privacy preservation as its core value proposition.
Their technology can help B2C companies identify key trends from 1000s of daily events with high accuracy making them an attractive partner for global enterprises aiming to differentiate their marketing initiatives through precise targeting and personalization efforts.
Benefits of Listing on Nasdaq via SPAC
Data intelligence startup Near is the latest company to benefit from listing on the Nasdaq stock exchange via Special Purpose Acquisition Companies (SPAC). Through its merger with Substreet Acquisition Corporation, the company has gained access to over 1.6 billion anonymous user IDs and reached a $1 billion market cap at its initial public offering (IPO). Additionally, the company raised $100 million in funding through a private investment in public equity.
Listing on Nasdaq via SPAC has provided Near with several advantageous benefits. One of these is an opportunity for consumer technology companies to enter into high-level markets that extend liquidity, enabling private companies to access institutional investors more easily than an IPO. Additionally, listings on Nasdaq give companies increased visibility and a wide range of investor choices within the tech sector.
Moreover, listing on Nasdaq also puts data intelligence startups like Near directly into technology’s main stream and increases their chances of greater success at fundraising rounds in the future. The stock market provides further credibility and standing in terms of reputation and business viability. It also allows them access to capital from new investors willing to invest larger sums when investing publicly through an exchange.
Finally, listing on Nasdaq is important for companies as it becomes easier to conduct other financial operations like issuing stocks and debt instruments at lower costs due to reduced legal fees associated with each transaction compared to exchange-traded assets such as bonds or derivatives that have various compliances attached. This aspect makes it easier for them to generate resources, finance research or development studies and manage their liquidity without compromising their future growth plans significantly or depleting existing resources available significantly faster than anticipated due to high transactions costs associated with alternative forms of financing.
Raising $100 Million
Data intelligence startup Near has announced that it has successfully listed on Nasdaq via Special Purpose Acquisition Company (SPAC) at a $1 billion valuation. The IPO was backed by a $100 million investment round from current and new investors, including Goldman Sachs.
Near provides an insight platform which utilizes its powerful data inference engine and a network of 1.6 billion anonymous user IDs, to offer real-time intelligence across locations, devices, channels and segmentations for better business insights. This unique combination allows businesses to better understand their customers and target them accurately across different media platforms.
The raise in funds will enable Near to further grow its presence in the US market and expand into key international markets such as Asia, Europe, Middle East and Latin America. The company also intends to use the proceeds to leverage its technology expertise, evolve product offerings and acquire strategic assets.This move is expected to give Near an edge over current competition and gives customer companies improved visibility that leads to conversions & longer-term customer loyalty.
Impact of Listing on Nasdaq on Near
Near’s recent listing on the Nasdaq exchange through a special purpose acquisition company (SPAC) is a major victory for the data intelligence startup. With 1.6 billion anonymized user IDs, Near was valued at a $1 billion market cap upon listing and accruing an additional $100 million in capital investments from Maison Capital and MS&ad PCS Innovation Fund.
This new influx of capital will enable Near to continue expanding its product offerings and pursue potential partnerships with organizations looking to leverage its proprietary ID graph technology, allowing deeper insights into marketing campaigns, advertisement optimization, and customer segmentation. The listing also enables Near to increase its access to global markets and join the ranks of other major public organizations such as Uber, Airbnb and Twitter.
Furthermore, this move signifies a milestone in propelling the data intelligence industry forward, drawing investor attention and highlighting the vast potential of data sharing technologies including anonymized user databases in today’s digital age. Ultimately, this listing fortifies Near’s place as an emerging world leader within the data technology sector by demonstrating that data-driven companies can unlock immense value via acquisition or direct listings.
Market Cap of Near at $1B
On February 23rd, 2021 data intelligence startup Near announced that it had listed on Nasdaq via a Special Purpose Acquisition Company (SPAC) at a market cap of $1 billion. This is an impressive achievement for Near, which has become Asia’s first data analytics unicorn. Moreover, it gives the company the resources needed to expand their globally leading position in the real-world data-intelligence sector.
Near currently has 1.6B anonymized user IDs and is processing up to 250 B monthly events. This immense international scale puts Near well ahead of other regional players in its field. It gives it a competitive advantage when creating actionable insights from consumers’ real-world behavior. Moreover, Near’s listing on Nasdaq via SPAC allowed them to raise an additional $100M which will be used to give them further opportunity for growth.
This listing is undoubtedly a major win for Near, positioning them as one of the few publicly traded companies focused data analytics worldwide and proving their reputable brand on a global level. In addition, this move will also further unlock opportunities within financial services sectors as well as grant additional resources from investors who are interested in investing in new markets. In particular, this $1 billion market cap valuation validates Near’s success within its chosen field and promises great things for their future endeavors in 2021 and beyond.
Conclusion: Major Win for Near
Near’s listing on Nasdaq via SPAC is a huge milestone for the data intelligence startup. The company not only listed on the exchange at a $1 billion market cap but also raised an additional $100 million.
This major win will propel Near forward and enable them to innovate and explore new opportunities in data intelligence. In addition, with 1.6 billion anonymous user IDs, they are well-positioned to further establish their presence in this industry as they begin their journey as a public company.
Investors will closely watch Near’s progress as they expand into new markets and gain a greater foothold in the data intelligence arena.