An IPO For Argentina
Globant, the Argentine technology services company founded by a group of four friends in 2003, has filed papers to begin trading on the New York Stock Exchange in 2014. It will be the first Latin American IPO since 2011. Globant said in a registration statement with the U.S. Securities and Exchange Commission that it planned to raise $86.3 million in the IPO.
Headquartered in Buenos Aires, Globant is a rapidly growing business employing 2,700 engineers, marketing specialists and designers in 21 offices across 14 cities in Argentina, Brazil, Uruguay, Colombia, the United States and the United Kingdom. The company’s approach is unique in that it provides clients with both the infrastructure and technical support that drive digital marketing campaigns, combined with the creative and design skills usually found alone in digital agencies. Globant’s revenue increased to $37.4 million in the second quarter of 2013 from $29.4 million in the same period the previous year.
Globant has deep experience in working in state of the art digital marketing spaces including, but not limited to, mobile, gamification, social networks, cloud computing, big data and e-commerce. Globant’s clients include American Express, JP Morgan Chase & Co., LinkedIn, Electronic Arts, Google, Coca-Cola, National Geographic, Zynga and Sabre Holdings.
“Our core competencies in gamification, cloud computing, big data, social networks and mobile enable us to deliver innovation to our customers and add value to their efforts to reach end users through software products. We are focused on staying ahead of the technology curve, which makes us the right partner for companies looking to build and engage consumers in a global way,” said Globant´s CEO and co-founder Martin Migoya.
The Latin American IPO
In terms of IPOs, Brazil had previously been the driver for IPOs in the Latin American region, posting 11 initial public offerings on the local market in each of the years 2010 1nd 2011. The bolsas in Buenos Aires, Santiago, Colombia, and Lima have trailed over the past two years, with a combined total of just six in 2010.
Learn more about Globant here: Globant Website