Ad technology company Delivery Agent selects banks for 2014 IPO: sources

Reuters News
Posted: Dec 13, 2013 5:02 PM
Ad technology company Delivery Agent selects banks for 2014 IPO: sources

By Olivia Oran

(Reuters) - Delivery Agent, an advertising technology company that allows TV viewers to shop for products they see on their favorite shows, has selected banks for an initial public offering, according to two sources familiar with the matter.

The San Francisco-based company is working with Deutsche Bank and Credit Suisse AG on an IPO which could come by the middle of next year and raise around $100 million, the sources said.

Delivery Agent, Deutsche Bank and Credit Suisse declined to comment.

The company works with broadcasters, advertisers and TV manufacturers to allow viewers to use their TV remote controls to buy products like the Real Housewives of New Jersey star Caroline Manzo's crystal flower earrings and a red track suit similar to that worn by Glee principal Sue Sylvester.

One of Delivery Agent's most expensive items is a Game of Thrones life size replica iron throne which costs $30,000.

Delivery Agent's partners include NBC, Fox, CBS, HBO, Showtime, PepsiCo Inc, Visa Inc, Comcast, Cablevision Systems Corp, AT&T, Verizon Communications Inc and Samsung.

The company's investors include Samsung, Intel Capital, Liberty Global PLC, Bessemer Venture Partners, Worldwide Technology Partners and Cardinal Venture Capital.

(Additional reporting by Nicola Leske; Editing by Bob Burgdorfer)