Neo Technology founder Emil Eifrem has turned down severals offers to sell the company. The database startup is now aiming towards an IPO.
Neo, founded by Swedes Emil Eifrem and Johan Svensson, has created a new type of digital database. Instead of organizing information as a grid in a spreadsheet, Neo’s software creates a graphical representation of connections between different data points.
The software has, among many other things, been used to structure the documents in the Panama papers.
“We have turned down several offers to sell the whole company. We have now started talking internally about an IPO in 2020”, Eifrem said on stage during a seminar organized by Veckans affärer in Visby, Sweden.
He continued on the same topic in an interview with Breakit, after he went off stage.
“This will be settled in the next two-three years. We have the first-mover advantage but there is also room for ‘the followers’. That’s where we are right now”, Eifrem said.
The road towards an IPO might be a tough one. In recent months, competitors such as Microsoft, Oracle and Amazon have all released competing products.
“It will obviously be tough when big players come in, investing tens of millions or billions of dollars”, Emil Eifrém said, stating that he still remains committed to working towards an IPO.