Israeli Start-Up Mobileye Files for $100M IPO

Tech FIrm Makes Software To Help Cars Avoid Crashes


By Reuters

Published June 19, 2014.
  • Print
  • Share Share

Mobileye N.V., which makes software and cameras that help cars avoid accidents, filed with U.S. regulators on Thursday to raise up to $100 million in an initial public offering.

The Israel-based company listed Goldman Sachs and Morgan Stanley as lead underwriters to the IPO, according to a regulatory filing.

The company’s collision-avoidance technology is used in more than 3 million vehicles made by the likes of BMW and General Motors.

Mobileye’s systems include a windshield-mounted camera that takes pictures of what is in front of the driver. The images are processed and, in real-time, a small device on the dashboard gives the driver audio-visual warnings.

The company was founded in 1999 by Amnon Shashua, a professor of computer science at the Hebrew University of Jerusalem, and Israeli businessman Ziv Aviram. Shashua is the now the chairman and Aviram the chief executive of Mobileye, each with a stake of about 9 percent in the company.

Mobileye’s other top shareholders include Goldman Sachs Group Inc, Fidelity Investments, BlackRock, and Enterprise Holdings, the No 1 U.S. car rental company.

The company last year raised money from five investors that valued its equity at $1.5 billion.

Mobileye’s revenue doubled to $81.2 million for the year ended Dec. 31. The company swung to a profit of about $20 million in the year from a loss of $53 million a year earlier.

The company was looking to raise up to $500 million in an IPO based on a valuation of $2.5-$3 billion, the Calcalist financial news website reported in March.

Mobileye on Thursday did not say how many shares would be sold in the offering or the price the shares would be sold at.

The company intends to list its common stock on the New York Stock Exchange under the symbol “MBLY”.

The amount of money a company says it plans to raise in its initial IPO filings is used to calculate registration fees. The final size of the IPO could be different.


The Jewish Daily Forward welcomes reader comments in order to promote thoughtful discussion on issues of importance to the Jewish community. In the interest of maintaining a civil forum, The Jewish Daily Forwardrequires that all commenters be appropriately respectful toward our writers, other commenters and the subjects of the articles. Vigorous debate and reasoned critique are welcome; name-calling and personal invective are not. While we generally do not seek to edit or actively moderate comments, our spam filter prevents most links and certain key words from being posted and The Jewish Daily Forward reserves the right to remove comments for any reason.





Find us on Facebook!
  • Will Lubavitcher Rabbi Moshe Wiener be the next Met Council CEO?
  • Angelina Jolie changed everything — but not just for the better:
  • Prime Suspect? Prime Minister.
  • Move over Dr. Ruth — there’s a (not-so) new sassy Jewish sex-therapist in town. Her name is Shirley Zussman — and just turned 100 years old.
  • From kosher wine to Ecstasy, presenting some of our best bootlegs:
  • Sara Kramer is not the first New Yorker to feel the alluring pull of the West Coast — but she might be the first heading there with Turkish Urfa pepper and za’atar in her suitcase.
  • About 1 in 40 American Jews will get pancreatic cancer (Ruth Bader Ginsberg is one of the few survivors).
  • At which grade level should classroom discussions include topics like the death of civilians kidnapping of young Israelis and sirens warning of incoming rockets?
  • Wanted: Met Council CEO.
  • “Look, on the one hand, I understand him,” says Rivka Ben-Pazi, a niece of Elchanan Hameiri, the boy that Henk Zanoli saved. “He had a family tragedy.” But on the other hand, she said, “I think he was wrong.” What do you think?
  • How about a side of Hitler with your spaghetti?
  • Why "Be fruitful and multiply" isn't as simple as it seems:
  • William Schabas may be the least of Israel's problems.
  • You've heard of the #IceBucketChallenge, but Forward publisher Sam Norich has something better: a #SoupBucketChallenge (complete with matzo balls!) Jon Stewart, Sarah Silverman & David Remnick, you have 24 hours!
  • Did Hamas just take credit for kidnapping the three Israeli teens?
  • from-cache

Would you like to receive updates about new stories?




















We will not share your e-mail address or other personal information.

Already subscribed? Manage your subscription.