Babylon, which makes language-translation software, filed for an initial public offering in the U.S. that could raise $115 million for the Israeli company. Revenue is up, thanks mostly to Google.
Babylon, based in Or Yehuda, Israel, offers a search toolbar for Web browsers that taps into data licensed from Google. The company takes a cut from ads that users click on, Bloomberg News reported. Last year, Babylon received the Guinness World Record for “most downloaded language translation software” with some 105 million downloads. (Yes, there’s an award for that.)
Google accounted for more than 80 percent of Babylon’s revenue in 2011, according to the IPO filing. If that agreement falls apart, investors may be saying, “No gracias.”