Kaleyra announces listing on NYSE, begins trading in US capital market
Cloud communications provider Kaleyra announced its official listing on the New York Stock Exchange (NYSE) by ringing the opening bell on Wednesday. Its shares began trading on the NYSE under the Ticker Symbol “KLR” on November 26, 2019.
In a statement, Dario Calogero, Chief Executive Officer, Kaleyra, said,
“The listing opens up new possibilities to drive product innovation and fuel our expansion into new markets. We are excited and ready to utilise all the opportunities ahead.”
“This is a significant milestone for us as we begin our next phase of growth as a publicly-traded company,” he added.
Through a tie-up with Gig Capital Inc, Kaleyra has transitioned into the US capital markets as a public company. The listing on NYSE will allow it to further strengthen its capital structure and capabilities to deliver advanced CPaaS solutions on a global scale.
Aniketh Jain, General Manager, Global Enterprise Business, Kaleyra, said,
“We have come a long way from our initial days as a bootstrapped startup to being a global brand that drives revenue for some of the largest enterprises in the world. We have worked tirelessly to strengthen our products, our partnerships, and achieve this growth. As we embark on this new journey as a public company, we will continue to work hard, innovate, and build impactful products.”
Solutions Infini was bootstrapped by Aniketh Jain and Ashish Agarwal in 2009 with Rs 4 lakh. Landing clients like Practo, Ola, Flipkart, and Aditya Birla, the startup recorded a revenue of Rs 160 crore in less than seven years.
In 2016, Italy-based IT and telecom services provider Ubiquity acquired a 51 percent stake in the startup. And then in 2018, the two merged under the brand name Kaleyra.
Today, Kaleyra claims to have a diversified portfolio with over 3,000 enterprise clients. With the public listing, the company plans to expand its product portfolio and capture a bigger share of the cloud communication enterprise market. It also acquired Hook Mobile in 2018.
“The customer-focussed strategy has helped us scale our products and revenue. We have witnessed tremendous growth in the last decade. The public listing will further accelerate our growth and build up our capacity to deliver game-changing CPaaS solutions,” said Ashish, Chief Technology Officer.
The company's proprietary cloud communication platform is sending out more than 24 billion messages and over one billion voice calls per year. The combined enterprise revenue of the Kaleyra Group is around $126 million with a projected growth of over 25 percent.
Operations from India alone accounted for more than $40 million in earnings this year. With the continued investment in its growth, Kaleyra is now aggressively looking to expand its customer base in North America and revolutionise the global cloud communication sector.
(Edited by Saheli Sen Gupta)