The story of Mitula Group: the company behind the largest IPO by a Spanish tech company of 2015
Summary
Mitula is one of the largest online classifieds websites in Spain and recently went public on the Australian Stock Exchange. Mitula Group, a vertical search engine and classifieds aggregator founded in Madrid in 2009, went public on the ASX in July, raising A$45 million. We also made several mistakes along the way, like opening multiple sales offices when we didn’t have a good enough product and when not a lot people were yet online in Spain. Google helps you sell your ad space in Vietnam, it collects the money, it applies currency exchange rates and then you just simply have to invoice them. Being a public company allows us two things: our current shareholders can sell some of their stock to make some money; and we now have the ability to raise capital on a steady basis to not only grow organically, but also through acquisitions.