John Sculley’s Zeta Global files for U.S. IPO

Zeta Global Holdings Corp, a marketing software firm co-founded by former Apple Inc Chief Executive Officer John Sculley, has filed paperwork for a U.S. initial public offering, according to a regulatory filing by the company on Monday.

The company is the latest among a string of technology firms looking to capitalize on investor appetite for new stock floats in the sector, which has witnessed a boom over the past year as the COVID-19 pandemic prompted businesses to invest more in digital transformation.

Zeta did not reveal the number of shares it plans to offer or its target price range.

Founded in 2007, Zeta had reportedly planned to go public in 2017 but scrapped plans, instead raising $115 million in equity and $25 million in debt later that year.

Media reports had said the new funds were raised at a valuation of $1.3 billion, though Zeta did not disclose a figure.

Zeta, led by David A. Steinberg, raised another $222.5 million in debt from investors including Barclays, Credit Suisse and Morgan Stanley Senior Funding.

The firm plans to list itself on the New York Stock Exchange under the ticker symbol “ZETA”.

Morgan Stanley, BofA Securities, Credit Suisse and Barclays are the lead underwriters for Zeta’s offering.


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