Infobip Will Be Ready for IPO by the End of the Year

At the presentation of the new Zagreb campus worth 150 million kuna, co-founder and CEO of Infobip Silvio Kutić also reflected on the company’s business plans.

He emphasized that they are growing annually at a rate of about 50 percent and that last year they achieved 1.18 billion US dollars in revenue. Infobip’s core business, digital communication, will take on new forms as the company turns to new areas such as the metaverse, augmented reality, and increasingly concrete applications of artificial intelligence.

Preparations for the announced IPO on the NYSE or NASDAQ will be completed, Kutić said, by the end of the year, and then the first Croatian unicorn will be ready to go public, but it is still difficult to talk about a specific date.

– We have 70 companies around the world and a very complex structure. We will be ready for listing, and when we will do it exactly depends on the state of the capital market. The pandemic and the war in Ukraine have also affected our market, technology stocks have fallen by 50-60 percent. Given the inflation and rising interest rates, the situation is not ideal, but for us, going public is a goal and a logical step forward as it will allow us to access capital for further development more quickly. We will try to hit the right moment – said Kutić.

When it comes to new acquisitions, the head of Infobip pointed out that they are constantly monitoring new targets.

The previous acquisitions and rounds of financing are in line with the plan ‘building’ the company ahead of its IPO. It started with a 200 million investment from the private equity fund One Equity Partners in 2020, and in November last year, they concluded credit financing amounting to 500 million dollars.

So far, four acquisitions have been completed in just one year. The first acquisition of the Vodnjan giant was the American company OpenMarket, followed by the acquisition of the leading global SMS firewall service provider, the Irish company Anam Technologies, and the Croatian franchise Shift conference. The latest was the acquisition of the American company Peerless Network, a global provider of VoIP (Voice over IP) services based in Chicago.