IronSource quietly launches spin-off Rise shortly before $11 billion SPAC merger

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By Suzana in Business
Updated 3 years ago

Tel Aviv-based web and mobile monetization company IronSource announced last week that it is heading towards the largest-ever public issuance by an Israeli company after raising $2.3 billion at an $11 billion valuation through a merger with a SPAC raised by U.S.-based investment firm Thoma Bravo Advantage. However, Calcalist has learned that at the end of 2020, not long before it made its announcement about going public, IronSource spun out its digital activity into a new company named Rise and transferred 150 of the employees to work under the new firm.

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