Paris, July 5, 2022 – Deezer (ISIN: FR001400AYG6 – Mnemonic: DEEZR), the second largest independent music streaming platform in the world, present in over 180 countries, is today listing on the Professional Segment (Compartiment Professionnel) of the regulated market of Euronext Paris.
As one of the earliest French unicorns and member of France’s Next40 index, Deezer is a pioneer of innovation in the music streaming industry. It has developed a scalable and differentiated global platform, supported by its state-of-the-art product and successful hybrid B2B/B2C business model. Through its business combination with I2PO and subsequent listing on Euronext Paris, Deezer intends to continue to grow, directing its efforts towards large attractive markets through its partnership-first strategy and focusing on product innovation and brand differentiation as the home of music, connecting fans and artists around the world.
With this transaction, Deezer received €143 million of new money, coming from the cash held by I2PO and from the cash raised through a PIPE, which was subscribed by most of the existing shareholders of Deezer, including Access Industries, UMG, Warner Music, Orange, Kingdom Holding, Eurazeo and Xavier Niel, as well as a selected group of long-term French and international investors, including Groupe Artémis, Bpifrance, and Média Participations. These funds will allow it to fund its next stage of growth.
Jeronimo Folgueira, Chief Executive Officer of Deezer declared: “Deezer’s IPO on Euronext Paris is a milestone in the company’s history. We are now taking the first steps on a new and exciting journey to develop, expand and capture an even bigger part of the growing music streaming market. Through merging with I2PO and going public, we have created a solid foundation to execute our strategic plan, with the right capital, expertise, and network. With a highly competitive product, a clear strategy, and a renewed and experienced management team, we will make the most of this opportunity to create substantial shareholder value. We are honored to join the Euronext Tech Leaders segment and to be ranked among the greatest tech companies in Europe.”
Guillaume d’Hauteville, Chairman of the Board of Directors of Deezer declared: “Today’s IPO will not only bring additional capital to fund Deezer’s development but also allow for shareholders not operating in private markets to support and invest alongside current shareholders. With those additional financial resources, Deezer, while keeping its capital efficiency intends to accelerate its innovation leadership and focus on delivering the best streaming product to our clients and partners. Deezer’s unique positioning as an independent innovator promoting third party audio content and music in an expanding market make us very optimistic for its future.“
Iris Knobloch, Vice-Chairwoman of the Board of Directors of Deezer declared: “We launched I2PO, the first European SPAC dedicated to entertainment and leisure, with the ambition to take a European champion to new heights. In Deezer, we have found the ideal combination as its new management team has positioned the company extremely well to capture a significant share in the booming music streaming growth with its well-established brand, outstanding tech capabilities, and scalable platform.
While Deezer enters a hugely exciting expansion phase and its listing is a formidable achievement, today also marks the beginning of a new phase of profitable growth paired with a focus on delivering long-term shareholder value as a publicly traded company.”
The I2PO Board of Directors’ meeting held today:
As from today, I2PO will encompass the activities and business of Deezer.