First Taiwan-Based Unicorn Appier Goes Public in Japan

Appier IPOSource: Appier

Taiwan-based Appier Group Inc. went public on the Tokyo Stock Exchange (TSE) after raising US$ 130 million in an initial public offering on Tuesday, setting a milestone for its investors and the company itself. Appier is an AI SaaS company that provides solutions for making precise, data-driven decisions based on consumer data.

Appier offers four core products: CrossX, their earliest product is an AI-powered customer acquisition and segmentation tool to identify high-quality users for customers; AiDeal which came from the acquisition of a Japanese startup, Emotion Intelligence, uses AI to discern customer intent and trigger purchase by delivering incentives to hesitant buyers; AIQUA, an AI-based customer engagement platform, and AIXON, a data science platform that unifies data to generate actionable insights.

Why did they choose Japan to go public?

With backups from many Japanese organizations such as SoftBank, JAFCO Asia and LINE, Appier now holds funds of which 75% is from international investors, 12% is from Japanese organizations, and 13% coming from individual Japanese investors. The Japanese market also takes up a large portion of Appier’s revenue, with great potential for continuous growth in the future.

Investors’ statements

Appier is the first company outside of the Indian market that has received funds from Sequoia Capital India.

As one of the earliest investors since series A back in 2014, Abheek Anand, managing director of Sequoia Capital India stated that Asia’s technology and innovation have been very active. For an AI SaaS company like Appier to succeed was no coincidence, and this signals the rising of Asian Pacific’s talents and innovations, and will be the beginning of many milestones to come for the region.

As an investor of Appier in series B and D, CEO of JAFCO Asia, Yoshiyuki Shibusawa said that Appier had set a global operating strategy since the beginning. Completion of IPO sets a new milestone for Taiwan startups, the path of Appier will also become a model for other Taiwanese startups aiming to deploy globally.

Market Expansion to the US and Europe

Founded in 2012 in Taipei, Appier now has 17 offices across APAC, US, and Europe. So far, northeast Asian countries, such as Japan and South Korea, had contributed to most of their revenues. The company is continuing the growth momentum and has seen initial incomes generated from Europe and the US markets.


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