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$9.98 0.0  0.1%

Last Trade - 16/04/21

Sector
Financials
Size
Mid Cap
Market Cap £496.1m
Enterprise Value £495.0m
Revenue £n/a
Position in Universe 3200th / 6850

Ad software company Viant valued at $2.5 bln in Nasdaq debut

Wed 10th February, 2021 5:15pm
By Sohini Podder
    Feb 10 (Reuters) - Shares of Viant Technology Inc  DSP.O 
jumped 76% in their market debut on Wednesday, giving the
advertising software company a market capitalization of $2.53
billion. 
    Viant's shares opened at $44, well above their initial
public offering price of $25 per share. The company offered 10
million shares in the IPO, raising about $250 million.
 urn:newsml:reuters.com:*:nGNX6CJBKj
    Founded in 1998 by brothers Tim, Chris and Russ Vanderhook,
Viant offers a cloud-based platform that allows ad buyers to
plan, create, execute and measure their digital advertising
investments. 
    "For us, it was really seizing on this transition that's
happening within digital advertising, a move away from cookies
or device tracking, more towards people-based," Chief Operating
Officer Tim Vanderhook told Reuters.
    People-based marketing uses an individual's identifiable
information, such as an e-mail address, to track their activity
across devices and browsers and it has proved to be more
effective than cookie-based marketing. 
    Chief Executive Officer Chris Vanderhook said marketers are
selecting people-based platforms for their advertising needs. 
    For the year ended Dec. 21, 2019, Viant reported a profit of
$9.9 million on revenue of $164.9 million. 
    BofA Securities and UBS Investment Bank were the lead
underwriters for Viant's offering.

 (Editing by Ramakrishnan M.)
 ((sohini.podder@thomsonreuters.com;))
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