The shares of the Polish company offering internet monitoring tools have been listed on the secondary NewConnect market since 2018. Now the Polish Financial Supervision Authority has agreed to its move to Warsaw’s main floor of GPW.
Founded in 2011 in Wrocław, Brand24 has become practically synonymous with startup success. Less than 7 years after its establishment, the company dealing with monitoring social media for the needs of its clients made its debut on the NewConnect exchange. It was then valued at PLN 60 million. Its services are used by brands such as Intel, IKEA, H&M, Vichy and Crédit Agricole.
In September 2019, the company received a significant blow. Facebook and Instagram accounts of Brand24 and its founder Michał Sadowski disappeared from the Internet. The reason was the publication in “Business Insider”, where the Polish company was listed in the same breath with, among others, Cambridge Analityca. In the material, companies were accused of collecting more data from Instagram than the website allows. Facebook reversed this decision in March 2020.
On NewConnect, the company’s stocks experienced ups and downs. Before the debut in the private offer, the block of shares was sold at a price slightly above PLN 31. In March 2018, a single share was already worth PLN 58, and during the blockade by Facebook, the company passed the lower and maintained valuation at the level of about PLN 20 per share.
After the information that Brand24 will enter the main market of the Warsaw Stock Exchange, the price of shares increased by 11.5 percent, to PLN 28.20 per share.