Israeli video cloud management company Kaltura has postponed the initial public offering (IPO) on Nasdaq that it had planned for today, until an unspecified date. The IPO has not been canceled, but according to market sources, delayed due to lower than expected demand at the valuation the company was seeking.
The company filed a prospectus last week, in which it set terms to raise $244-278 million, at a company valuation of $2 billion. In the prospectus, the company said that it would use the funds raised for acquisitions of companies or technologies as well as general business purposes, such as working capital, R&D expenses, and marketing and sales activities.
Founded in 2006, Kaltura, which has raised $156 million to date according to IVC, develops and markets video management systems for businesses and media organizations.