The Stocks of Viant went up by 90% and more after its IPO. The company bought MySpace in 2016. The company has a demand-side and self-serve platform with a fast-growing CTV offering. It took the IPO route by offering 10 million shares in total. It came up from 7.5 million shares as per the initial proposal. The pricing stood at $25 per share, and the company got $250 million in total funding. Prices went up during the morning trade before settling at $47.72.
Viant’s trading symbol is DSP. It means a demand-side platform. The global ad-technology segment is rapidly consolidating in recent times. Sometime earlier, Magnite was on-board with purchasing SpotX for $1.17 billion from the RTL Group, creating the biggest independent SSP (supply side platform). Magnite came about with a merger between Telaria and Rubicon Project. Viant began in 1999, and Time Inc now owns a 60% interest in the company. It took place in 2016.
Viant is also the owner of Adephic, acquiring it in 2017. The latter offers programmatic advertising capabilities, along with media buying and planning on the self-service model. Time was an acquisition in 2017 for Meredith, while co-founders at Viant, Chris, and Tim Vanderhook, bought back the 60% shareholding in November 2019. The employees and founders at the company possess 80% ownership of the entity. Viant is flourishing in the booming CTV-advertising space, although it is considering futuristic advertising and digital video operations since its establishment. It is the opinion of the COO of the company, Chris Vanderhook.
They also came up with Xumo, which became an acquisition in April 2020 at Comcast. The deal value estimate stands at $145 million. Vanderhook feels that the company can envision the future while planning to foray into video-based formats. He adds that the future will be household streaming for video, leading to investment in the same. He states that the company grew its business by 52% in 2019, with profit margins at 20%. The company grew by 65% in 2020 as well. Viant bases its platform on real people and needs, through actual identifiers. The IPO funds will also help in enhancing its Adelphic platform. Viant will deploy funds in sales and marketing too.