Believe (formerly Believe Digital) could be set to float on the European stock exchange, having achieved an annual turnover of around $500m.
It has now been honored with a ‘Future Unicorn’ trophy by French publication Challenges – a gong which forecasts that Believe will one day be worth more than a billion Euros.
The write-up about that award confirms that Believe is currently looking into an IPO on European stock exchange Euronext, and that it is also currently seeking funding to assist with music industry buyout targets.
“We are looking for partners who could help us finance a big acquisition,” Believe CEO Denis Ladegaillerie told Challenges.
“We are looking for partners who could help us finance a big acquisition.”
Founded in 2005, Believe’s last financial year reportedly saw a turnover of ‘over €400m’ ($493m), according to Challenges.
That represents a near-doubling on the revenues it generated in 2015, which stood at around $250m.
Last year, Believe was reportedly in talks to sell a majority stake of its business to Sony Music for north of $350m.
Believe CEO Denis Ladegaillerie later clarified the report from Japanese business paper Nikkei, telling MBW his firm was instead in the process of raising funds for its own acquisitions.
That process is understood to have led to the exploration of a potential buyout.
Believe continues to seek funds to finance its development in Europe – where it achieves 60% of its business – but also in the United States, China, India and Russia.
Music Business Worldwide