LoopUp raises £8.5m in ‘first’ post-Brexit tech IPO

Conference call start-up floats shares on AIM for 100p

Conference call start-up LoopUp floated on the London Stock Exchange this morning, bringing its valuation to 40.8 million.

The London-based firm claims to be the UK's first tech firm to go public since the country voted to leave the EU, and it raised 8.5 million by selling shares at 100p each on the London Stock Exchange's AIM market its shares rose to 110p later this morning.

Advertisement - Article continues below

Co-CEO Steve Flavell said in a statement: "The completion of the IPO process marks an important and exciting milestone on LoopUp's journey as a UK-headquartered and internationally-minded technology company, and provides a significant catalyst for our continued growth.

"The reception from investors has been positive and encouraging, and reinforces our belief that our differentiated product, business model and plans for the future provide the foundation needed to deliver on our potential as a public company.

"Our focus will continue to be on delivering an exceptional product and service to our customers around the world, supported by the funds we've raised and emboldened by the faith our new shareholders have placed in us. These are exciting times."

LoopUp hopes to differentiate itself in the conference call space by reducing noise interference, dialling out participants, rather than them having to remember the relevant codes themselves, while showing who is on the call and who is speaking.

Advertisement
Advertisement - Article continues below
Advertisement - Article continues below

Michael Hughes, co-CEO, told CNBC this morning: "When you think about most people's everyday conference calling experience, it is pretty poor, and I think investors have been very surprised to discover that over 14 billion of wasted time occurs in the US and the UK alone. What LoopUp's all about is trying to use the tools that you have with you everyday to solve these problems."

Featured Resources

Preparing for long-term remote working after COVID-19

Learn how to safely and securely enable your remote workforce

Download now

Cloud vs on-premise storage: What’s right for you?

Key considerations driving document storage decisions for businesses

Download now

Staying ahead of the game in the world of data

Create successful marketing campaigns by understanding your customers better

Download now

Transforming productivity

Solutions that facilitate work at full speed

Download now
Advertisement

Recommended

Visit/business/business-strategy/356296/non-voyage-coronavirus-brexit-and-the-future-of-business-travel
Business strategy

Non voyage: Coronavirus, Brexit and the future of business travel

1 Jul 2020
Visit/policy-legislation/general-data-protection-regulation-gdpr/356262/uk-data-laws-after-brexit-your
General Data Protection Regulation (GDPR)

UK data laws after Brexit: Your questions answered

30 Jun 2020
Visit/marketing-comms/social-media/355840/social-media-and-the-death-of-truth
social media

Social media and the death of truth

29 May 2020
Visit/software/355486/zoom-review-are-we-alone-now
video conferencing

Zoom review: Are we alone now?

29 Apr 2020

Most Popular

Visit/business/business-operations/356395/nvidia-overtakes-intel-as-most-valuable-us-chipmaker
Business operations

Nvidia overtakes Intel as most valuable US chipmaker

9 Jul 2020
Visit/laptops/29190/how-to-find-ram-speed-size-and-type
Laptops

How to find RAM speed, size and type

24 Jun 2020
Visit/server-storage/servers/356083/the-best-server-solution-for-your-smb
Sponsored

The best server solution for your SMB

26 Jun 2020