Fri, 15 Feb 2013 20:15:00 GMT | By ANI

Kim Dotcom hints at floating Mega IPO in 18 months

Mega founder Kim Dotcom has given hints that he has planned to float Mega in about 18 months, after going out for more private investment in a ‘pre-IPO’ funding round in about six months


Kim Dotcom hints at floating Mega IPO in 18 months (© Reuters)

Wellington: Mega chief executive Vikram Kumar has said the New Zealand Stock Exchange would be the logical home for Kim Dotcom’s new cyber-locker service when the company goes public.

Mega founder Kim Dotcom has given hints that he has planned to float Mega in about 18 months, after going out for more private investment in a ‘pre-IPO’ funding round in about six months. Kumar said that they are definitely looking at the NZX. It would be the logical choice because Mega is a New Zealand company.

According to stuff.co.nz, he added that ‘whether there would be overseas ones as well is the question. The next obvious choice would be Australia’. Kumar said Mega now had about three million users who were using it to store almost 100 million files. However, only a very small proportion of Mega’s patrons are as yet paying customers.

He said that Mega was proving most popular in continental Europe and South America, where privacy tended to be most highly prized.  According to the report, Wellington-based e-commerce expert Stefan Korn has estimated that it would have cost far less than 100,000 dollars to get Mega off the ground, since it is able to rent servers on which to run its service on a pay-as-you-go basis. He said it could prove a good investment because of Dotcom's profile.

Dotcom has said Mega’s rapid growth meant it was now in need of extra servers. He tweeted that Mega would soon start hiring, the report said.  Kumar said Mega had no target at the moment with regard to how much it intended to raise through its next private equity raising, it added.

MSN Mobile News

get connected

Follow.Share.ConnectTwitterRSSMobile

news videos

more news videos