RealTime IT News

HyperBanner Plans to Sell Shares in U.S.

Banner exchange HyperBanner Ltd. reportedly plans to raise money by selling shares in the U.S. next year to extend its international reach as it develops its e-commerce consulting arm.

The three-year-old company already has 200,000 firms using its free reciprocal advertising service to sell products as diverse as French pastries and plastic surgery. It earned revenue last year of about $1 million, largely from selling advertising on its own site to companies such as Walt Disney and eBay, according to Bloomberg News.

HyperBanner's Israeli founders said they expect to generate profits by guiding advertisers deeper into e-commerce and selling them tools to manage online business.

"Our goal is to bring the company public," CEO Amir Faintuch told Bloomberg. "Within three quarters we should be mature enough to hit the road."