TextMagic is a
SaaS
Software as a service (SaaS ) is a software licensing and delivery model in which software is licensed on a subscription basis and is centrally hosted. SaaS is also known as "on-demand software" and Web-based/Web-hosted software.
SaaS is con ...
-based
A2P messaging service that allows
SMBs to connect with their customers via two-way
SMS messages, online texts, gateway SMS via email, SMS software for desktop, and SMS distribution lists.
TextMagic is operated by TextMagic AS, a
publicly-traded company
A public company is a company whose ownership is organized via shares of stock which are intended to be freely traded on a stock exchange or in over-the-counter markets. A public (publicly traded) company can be listed on a stock exchange (l ...
with its headquarters in Estonia.
History
TextMagic was founded in 2001 by Dan Houghton in the United Kingdom. In 2013, Monday Media OÜ, a
holding company
A holding company is a company whose primary business is holding a controlling interest in the securities of other companies. A holding company usually does not produce goods or services itself. Its purpose is to own shares of other companies ...
of Estonian tech executive Priit Vaikmaa, acquired 55% of TextMagic Ltd.
The company's shares were sold in an
initial public offering
An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investme ...
, with the first day of trading 15 December 2021.
As part of the IPO, TextMagic aimed to raise up to €2.5 million via the issue of up to 500,000 new ordinary shares. Altogether, 15,410 investors subscribed for 9,896,434 shares, totalling €49.5 million.
The IPO established TextMagic as the locally listed Estonian firm with the largest number of shareholders, with an oversubscription rate of 19.8.
See also
*
Unified communications
Unified communications (UC) is a business and marketing concept describing the integration of enterprise communication services such as instant messaging (chat), presence information, voice (including IP telephony), mobility features (including ...
References
{{Reflist
Companies based in Cambridge
Companies established in 2001