PeerTV, a veteran Israeli startup company which enables Content Providers, ISPs and Operators to deliver OTT (Over-the-Top) TV services, has filed for IPO in the London AIM market today. This is the first Israeli company to go public in London in the last three years. PeerTV hopes to raise £6 million in this move (or $9.64 million) to position itself as a player in the growing Internet TV market.
PeerTV’s OTT service includes live channels VOD and free public content over the open Internet such as podcasts and streaming video. The IPO is underwritten by Libertas Capital Corporate Finance. PeerTV says it is profitable ($200,000 profit in the last six months) on revenue of £3.12 million – a growth of almost 30% from last year, in which PeerTV grossed £2.18 million.
For OTT TV channel operators, PeerTV’s solution provides minimization of the initial risk by lowering the needed investment and a solid technological solution that needs minimal integration efforts. Coninue reading PaidContent’s summary of the IPO and an analysis of the recent connected TV IPO moves.
Demo of PeerTV’s technology from YouTube: