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SiteMinder eyes unicorn status before Christmas

12/19/2019| 5:09:48 PM| 中文

Potential investors were told Siteminder's revenue was forecast to grow by 30 percent in the 2020 financial year to more than $125 million.

Australia could have a new tech sector unicorn this side of Christmas.

Street Talk can reveal hotel booking technology platform SiteMinder is on the cusp of closing a capital raising for as much as $200 million and should finalize the deal within the week.

If the raising was successful, it is understood Siteminder's implied valuation at the top end of the offered size would be $1.2 billion and the company would cement unicorn status.

And the next stop would be an initial public offering, which market sources were tipping would happen within the next two years.

SiteMinder provides core technology to hotel booking sites such as Booking.com by connecting hotels' back-end systems to the customer-facing websites.

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TAGS: hotel distribution | financing | SiteMinder
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