Deezer lists after having reached a definitive agreement for a business combination with the I2PO SPAC
Deezer joins the Euronext Tech Leaders segment, dedicated to European leading and high-growth Tech companies
Deezer is the 2nd listing on Euronext Tech Leaders since the launch of the initiative in June 2022
The listing of Deezer is the 5th business combination with a SPAC on Euronext markets in 2022, and the 1st business combination with a SPAC on Euronext Paris in 2022
Paris – 5 July 2022 – Euronext today congratulates Deezer, a leading global music streaming platform, on its listing on the Professional Compartment of Euronext’s regulated market in Paris (ticker code: DEEZR). The company has listed following the completion of its successful business combination with I2PO, a Special Purpose Acquisition Company (SPAC) dedicated to the entertainment sector, which listed on 20 July 2021.
Deezer is the second largest independent music streaming platform in the world, present in over 180 countries. As one of France's first unicorns and a member of the French Tech Next40 index, Deezer is an innovator and a pioneer in the music streaming industry, offering a catalogue of more than 90 million tracks to users all over the world. With 9.6 million subscribers and €400 million revenue for the year ended December 31, 2021, Deezer has solid foundations for continued growth in the booming music streaming market.
Through its business combination with I2PO and subsequent listing on Euronext, 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 around being the “Home of Music”, connecting fans and artists around the world. The market capitalisation of Deezer at the first trading day is of €960,492,350 million.
Deezer also joins the Euronext Tech Leaders segment launched by Euronext in June 2022 with the support of its strong network of partners. The Euronext Tech Leaders initiative includes several services, including the creation of a segment gathering more than one hundred European companies listed on Euronext markets, the upcoming launch of an index made up of the stocks in this segment, a range of services for the visibility and promotion of Euronext Tech Leaders companies to international investors, improved trading conditions, the creation of a community of Tech Leaders through the integration of a C-level Club and the organisation of the Euronext Tech Leaders Campus, which aims to become the annual meeting venue of Tech companies in Europe. The Euronext Tech Leaders initiative complements Euronext’s existing Tech offer, which includes an ecosystem of over 700 Tech companies listed on Euronext markets and over 660 alumni of its TechShare pre-IPO programme, as well as a broad investor base to finance all growth types of Tech companies. With this initiative, Euronext aims to strengthen the European Tech sector and to be a catalyst of the next generation of Tech Leaders.
To learn more about the Euronext Tech Leaders initiative: Euronext Tech Leaders.
Jeronimo Folgueira, CEO of Deezer, said: “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 honoured to join the Euronext Tech Leaders segment and to be ranked among the greatest Tech companies in Europe.”
Caption: Jeronimo Folgueira, CEO and Board Director of Deezer, and his team rang the bell during a ceremony this morning in the presence of the French Minister for Economy and Finance, Bruno Le Maire, and Delphine d’Amarzit, CEO of Euronext Paris, to celebrate the IPO of the company through its business combination with the I2PO SPAC.
About Deezer Deezer is one of the largest independent music streaming platforms in the world, with more than 90 million tracks available in 180 countries, providing access to lossless HiFi audio, innovative recommendation technology and industry defining features. As the home of music, Deezer brings artists and fans together on a scalable and global platform, to unlock the full potential of music through technology. Founded in 2007 in Paris, Deezer is now a global company with a team of over 600 people based in France, Germany, UK, Brazil and the US, all brought together by their passion for music, technology and innovation. Deezer is listed on the Professional Segment of Euronext Paris (Ticker: DEEZR. ISIN: FR001400AYG6) and is also part of the newly created Euronext Tech Leaders segment, dedicated to European high-growth tech companies, and its associated index.