On its first day of dealings upon admission to the AIM market, Silverbullet Data Services Group (SBDS) raised £9.5 million valuing the digital provider at around £34.5 million.
The Group, which utilises its proprietary 4D advertising solution to assist global brands such as Heineken, Channel 4, Amazon, ITV and Jägermeister, said the proceeds will be used to accelerate its growth through the roll out of its 4D product and the expansion of its client base.
The Group's flagship digital marketing product, 4D, is a contextual intelligence cloud-based platform that seeks to improve brand engagement and marketing ROI, which the Board believes will enable the Group to deliver scalable revenues with low marginal costs.
Silverbullet said it hopes to capitalise on a ‘once in a generation, permanent, global shift in consumer behaviour towards digital media’, as digital advertising spending is forecast to reach US$645.8bn by 2024 and account for around 68% of total media advertising spend.
The company believes it can capitalise on the changing regulation and global corporate policy which is driving a shift by brands towards 'in-housing' of the digital marketing process as well as the wider trend away from the use of third-party cookies in the advertising environment.
In particular, the group said it is well positioned to capitalise on this opportunity with its strong established services business which holds ‘significant accumulated industry experience and a proven track record of delivering strategic projects and activation services to its clients.’
Shares in Silverbullet Data Services which floated at 257p on Monday morning were trading 1.10% higher at 275p during late-morning trading.
Looking ahead, Silverbullet, which already has an established global presence with offices in the United Kingdom, Italy, Germany, Australia as well as a recently opened office in the United States, stated that it continues to look at other opportunities for expansion worldwide.
Commercially, the Group has close technical and commercial deals with Salesforce, Oracle and Adobe, all of which have existing sales channels and are already delivering to clients.
In particular, the Group explained that it has established a joint venture and strategic partnership with Local Planet, a scaled network of over 60 agencies across the globe which transact, in aggregate, over US$16 billion of media buying on behalf of their clients.
It said the Local Planet JV, which was established in December 2020, and has already generated material services revenues for the Group, ‘presents a significant opportunity to provide further data services and the 4D product to the Local Planet agency network.’
Ian James, CEO, said, "I am delighted that we have successfully completed our IPO and admission to AIM. We very much appreciate the strong support of our existing and new shareholders and look forward to working with them on the exciting growth journey ahead.”
“I would like to take this opportunity to thank our hard working and innovative team for creating the outstanding business we have today and the opportunities available to us."
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