Japanese curated news app company Uzabase to IPO with $177M market cap

R to L: Yusuke Umeda (Uzabase Co-CEO), Norihiko Sasaki (Managing Director & NewsPicks Editor-in-Chief)

Tokyo-based Uzabase, the startup behind curated news app NewsPicks and company/industry database service Speeda, announced today hat its IPO application to the Tokyo Stock Exchange (TSE) has been approved.

The company will be listed on the TSE Mothers Market on 21 October with plans to offer 543,000 shares for public subscription and to sell 114,000 shares in over-allotment options for a total of 193,300 shares. It expects an initial market cap of 17.78 billion yen (about $177 million). The underwriting will be led by Mizuho Securities while Uzabase’s ticker code will be 3966.


Founded in 2008, Uzabase started offering the NewsPicks app back in September 2013. The company has differentiated NewsPicks from other similar apps by curating news topics by notable economics news outlets. Prior to today’s announcement, the company secured $4.5 million from several Japanese companies and VC firms in a series C round in August of 2014.


Led by the company’s Co-CEO and founder Yusuke Umeda (a 28.34% stake) and Co-CEO and founder Ryosuke Shino (a 28.34% stake), their major share holders include Global Capital Partners (11.43%), COO Yusuke Inagaki (9.91%), and Hong Kong-based financial information provider FISL (4.82%), according to the submission to the stock exchange.

In this vertical, Uzabase’s competitor Gunosy (TSE:6047) IPO-ed with an initial market cap of $263 million in March last year while Japan’s 5th most-funded startup SmartNews recently secured $38 million in a series D round but is also expected to go IPO within this year.