Japan: Curated news firm Uzabase targets listing at $177m market cap

Tokyo-based database provider Uzabase has received the approval from the Tokyo Stock Exchange for public listing of its shares from October 21, 2016, according to an announcement by the Japanese bourse.

The company will be making its listing debut on the Mothers Market of the exchange, with plans to offer 543,000 shares for public subscription and to and to sell 110,400 shares in over-allotment options, and 193,300 shares in secondary offering.

Uzabase said its market capitalisation was expected to reach 17.78 billion yen ($177 million) following the IPO. Mizuho Securities is the underwriter for the transaction.

Founded in 2008, the company has developed its flagship product, SPEEDA, as information infrastructure; and business news platform NewsPicks, which curates news topics.  The value of a news aggregator lies in its ability to consolidate news content, which adds significant business value.

Uzabase raised $4.5 million in a series C funding in 2014, led by Itochu Technology Ventures. Other participating investors include Yahoo Japan Capital, GMO Venture Partners, Mitsubishi UFJ Capital and Shinsei Bank.

Uzabase’s co-CEOs and founders, Yusuke Umeda and Ryosuke Niino, are holding a 28.34 per cent stake each in the company, while their major shareholders own from almost 5 per cent, including Global Capital Partners (11.43 per cent), COO Yusuke Inagaki (9.91 per cent) and Hong Kong-based financial information provider FISL (4.82 per cent).

Several of Uzabase’s competitors in the curated news business are also boosting their growth through an IPO.

Gunosy started listing with an initial market capitalization of $263 million last year, while SmartNews is reportedly seeking an IPO in 2016, having secured $38 million in a series D investment round, according to The Bridge.

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Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.