Ivo Lukakovic, owner of Czech search engine Seznam.cz, is considering an IPO. Seznam.cz is the leading Czech language search engine and rivals Google in popularity on the Czech Internet. Seznam is rated the most visited Internet company based in the Czech Republic.
“My thoughts on the Seznam IPO don’t make sense from a rational point of view, but they can be put in the same category. It seems stupid, it will hurt, and we may have to fight a bit to get this done, but it will be a good thing in the end,” Lukakovic was quoted as saying. Czech Press Agency (CT-K).
Lukakovic made the comments on an online platform. Patreonaccess is restricted to users only.
CT-K Lukakovic was also reported to have said that if the IPO is successful, Seznam will be the only company in that segment of the stock market.
Seznam spokeswoman Aneta Kapciyanova described the owner’s words as a “topographical survey.” CT-K I wrote it.
Radim Dohal, an analyst at financial consultancy ConsultLinked, estimated Seznam’s value at 20 billion to 35 billion Czech crowns (800 million to 1.4 billion euros), adding that such an IPO would liven up the Prague Stock Exchange.
“New emissions, a stable company and a profitable, easy to understand business model,” Domhnall said of the positives, adding that an IPO would provide liquidity for Lukakovic.
Meanwhile, “any forced opening up to investors and citizens would mean an unpleasant opening up to competitors, such as Google, which has a low market share in the Czech Republic,” Donal was quoted as saying. CT-K.
The Czech Republic is one of the few countries in the world where Google faces stiff competition — the others being China and Russia, which have records of state interference in the internet, and the Asian tech giants Japan, South Korea and Taiwan.
Popular online news media, Seznam Zpravi It is linked to Seznam’s search engine, as are its sporting goods. Sports.cz And another outlet NovinkyOnline TV Seznam It also offers a number of other services, including maps and an online shop.
According to CTK, Seznam’s pre-tax profit for 2023 will rise 6% year-on-year to CZK 1.36 billion, while sales rose 0.2% to CZK 5.94 billion.
Lukačovic regularly ranks in the top 20 of the Czech edition of the “Czech Rich List.” Forbes In the 2022 list, it ranks 12th with an estimated assets value of 30.3 billion Czech crowns.
The Seznam owner is also active in other projects, including the international weather forecast app Windy, which Lukakovic controls through a Cyprus company, Helifreak Limited.
In 2023, Windy reported sales of CZK 217 million and profit after tax of CZK 60 million, a doubling of the previous year. Windy’s sales in the previous year were CZK 128 million. Czech Online Outlet RupaThe online trends tracker reported this month that Windy also acquired Swiss competitor Meteoblue this year, as previously reported by Lupa.
“I’ve known the founder of MeteorBlue for 10 years and he is my best friend. Throughout that time, our companies have competed a little bit, but at the same time we have helped and advised each other,” Lukakovic said at the time.
