Seeks around £15m to develop operations in fast growing market
A surge in the number of people viewing video on the web has prompted UK start-up Rightster to seek a £50 million stock market listing. The company, which employs about 200 people and helps content owners distribute and market online video, believes the time is right for flotation after two years of proving its worth to the likes of ITN, the Guardian and the British Fashion Council, who use it to promote their content. Rightster, which also recently purchased Preview Networks – Europe’s leading distributor of film trailers – was started by serial entrepreneur Charlie Muirhead, whose other launches include software firms Orchestream and Nexagent.
He hopes that a stock market listing will raise around £15 million on London’s Aim market to fund further acquisitions and investment in its technology, having already predicted revenues of £13 million for the current financial year.
Online video is one of the fastest growth areas in digital advertising, with Informa predicting the market will be worth $37 billion by 2017, especially as increasing numbers of youngster watch video on the move.
Its growth is fuelling rapid development of the video content industry, with Rightster now partnered with Viral Spiral whose own deals include some of the most popular videos on YouTube and where Rightster itself already operates more than 450 multi-channel networks.