Sophia Antipolis: stockmarket listing for Ipernity
Multimedia sharing and social networking website that set-up on the Côte d’Azur in April 2007 is listed on Euronext Paris.
Start-up, IPernity, which takes its name from combining ‘IP’ and 'eternity’, was listed on the free market of Euronext Paris, on July 20. The flotation followed a successful financing round, which saw the start-up successfully raise a million Euro from 128 personal investors keen to invest in small and medium-sized companies and benefit from a reduction in France’s new ISF wealth tax under the country’s TEPA law.
Established in 2007 by Christophe Ruelle, who founded the Echo search engine and eStat.com, IPernity describes itself as a multimedia sharing and social networking site where members can “publish and share whatever you want with whomever you want” including photos, videos, texts, blogs etc., which can be stored and shared over a long period. The site, which is aimed at attract families and friends due to its large, long-term storage capacity, compares itself with leading photo, video and social networking sites such as YouTube, Facebook etc.
“The goal of this operation wasn’t to raise capital but to reassure the 128 private investors who invested in us.” CEO IPernity, Christian Conti. “This flotation guarantees that our investors will be able to sell their shares in five years time and benefit from the reduction in wealth tax offered under the new loi Tepa.” he explained.
The company, which is financed via member subscriptions (€2 a month), expects to become profitable between now and 2012 and forecasts sales of €10 million by 2013.
En savoir plus : www.ipernity.com