LatAm List – Ubook, a Brazilian audio streaming company, plans to go public in Canada during this year’s second semester and expects to raise $8M-$15M in the process.
Flávio Osso, Ubook’s CEO and founder, explains that they chose the Toronto Stock Exchange for the IPO because Canadian investors are more familiar with how the audio streaming industry operates, compared to Brazilian investors.
According to Osso, the IPO will bring resources to help the company produce more original content and to “consolidate itself as the largest audio-streaming platform in Latin America and start expanding to some European countries.”
The Ubook currently has 6 million registered users, 15,000 items in its catalog, and by the end of March will be operating in 18 countries, including Spain, Germany, and Mexico.
Among its current investors is Cypress M3 FIP fund from Trivèlla M3 Investimentos, which contributed more than $780K to Ubook in 2017.
Read more on LAVCA.
