NIQ CEO on going public: ‘We're sitting on a goldmine of data. We cover 85% of the world's population'
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I spoke yesterday with NIQ CEO Jim Peck after his consumer intelligence firm had debuted on the New York Stock Exchange. Formerly NielsenIQ, it was created four years ago when the private equity firm Advent International bought Nielsen's Global Connect business in a leveraged buyout for $2.7 billion.
When it comes to leveraging AI, access to proprietary and high-quality data is obviously a plus, and NIQ has plenty of that.
Yesterday's IPO raised $1.05 billion for NIQ. With $4.3 billion in total debt on an adjusted EBITDA of $741 million last year, Peck needs the money. 'The real value is the capital,' he said. 'It's not a brand awareness thing. We're buying down the debt and increasing the cash flow.'
After a transformation that included $400 million in AI upgrades, Peck says he's optimistic about what's next. 'We're a company that is perfectly suited to leverage AI in all its forms,' he argued. 'We're sitting on a goldmine of data. We cover 85% of the world's population as far as shopping behavior and we do business with every relevant brand and retailer on the planet.'
'We can tell them how their market share is doing in Brooklyn, New York. We can say whether it's because of a pricing promotion or something else, and we can tell them if more 60-year-old males are buying the product … We cover the earth's shopping behavior.'
Fascinating stuff. Then again, the stock's 9.5% drop on its first day of trading shows investors also brought the company down to earth, too.Contact CEO Daily via Diane Brady at diane.brady@fortune.com
This story was originally featured on Fortune.com
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