Leading ad tech unicorn startup IGA Works to file for IPO

IGAWorks, Inc. , the startup that recently became a ‘unicorn,’ is set to go for an IPO. The ad tech company, a one-stop gateway to mobile marketing in Asia, has appointed Samsung Securities and Mirae Asset Securities to submit a request for preliminary examination for listing in October of this year.

The ad tech company founded on 2006 provides global services for the smart success of digital marketing and mobile businesses. It covers 90% of Korea’s performance ad traffic with 24 million active users, including 16 million mobile gamers in its network. IGA Works provides cloud-based SaaS solutions such as customer data platform (CDP) ‘Definery,’ ATD (Advertising Trade Desk) ‘Trading Works,’ and big data analysis solution ‘Mobile Index.’

Through strategic alliances with major companies such as KT and Shinhan Bank, the company is expanding beyond mobile to TV broadcasting, finance, commerce, and offline. Currently, more than 4,000 general companies, various investment companies, and government agencies are using the platform of IGA Works.

Sales growth, profit and overseas expansion

IGA Works Group’s data-based advertisement handling amount in 2021 has exceeded 495.1 billion won ($381 million), and the compound annual growth rate (CAGR) for the past five years is 78.1%. Last year, the company recorded 181 billion won ($139 million) in consolidated sales, and 5.3 billion won ($4 million) in net profit.

According to industry reports, the corporate value of IG Works is expected to exceed 2 trillion won ($1.5 billion). IGA Works plans to actively engage in overseas M&As after the IPO to secure global competitiveness and expand the market.

IGA Works CEO Ma Kook-seong said, “We will provide online and offline digital transformation infrastructure in the form of SaaS-based on global top-tier platform capabilities and unique data assets, while at the same time helping data-related decision making to lead the domestic and international data industry.”

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