Click­atell plans IPO to fund ex­pan­sion

Gulf Times Business - - BUSINESS -

Click­atell, which helps com­pa­nies com­mu­ni­cate with cus­tomers via mo­bile mes­sag­ing plat­forms, is con­sid­er­ing a pub­lic of­fer­ing next year as it seeks to fund a rapid ex­pan­sion of its ser­vices, founder and CEO Pi­eter de Villiers said yes­ter­day.

Click­atell, which was founded in South Africa but is now based in Cal­i­for­nia, could seek to list on a US ex­change, he said.

The com­pany ini­tially used mo­bile phone SMS mes­sag­ing to en­able its clients to com­mu­ni­cate di­rectly with their cus­tomers.

It is now part­nered with Face­book’s What­sApp Busi­ness plat­form to pro­vide ser­vices rang­ing from on­line cus­tomer ser­vice to dis­tri­bu­tion of real-time flight in­for­ma­tion to mo­bile bank­ing.

“The mar­kets around us are grow­ing fast.

It makes sense for us to do cap­i­tal rais­ing in 2019, maybe in (the first and sec­ond quar­ters),” de Villiers told Reuters in a tele­phone in­ter­view.

He said the com­pany — which also has of­fices in South Africa, Canada and Nige­ria — had not yet taken a fi­nal de­ci­sion on whether to go pub­lic or fundraise via a pri­vate place­ment.

“We could cer­tainly list in the US pro­vided we felt that the com­pany would get enough at­ten­tion given mar­ket cap and size,” he said. “I think pri­vate eq­uity is also still very much an option for the busi­ness given the mo­men­tum we’ve got.”

As a pri­vate com­pany, Click­atell does not pub­lish fi­nan­cial re­sults, but de Villiers said it has turned a profit ev­ery year since 2009 and is on track for yearon-year rev­enue growth of more than 30% this year. “We’ve had dou­ble- digit growth for quite some time.

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