TubeMogul Hopes to Raise $75 Million IPO
Video-buying platform provider TubeMogul is going public. The company has filed an S-1 with the Securities and Exchange Commission with the hopes of raising $75 million in an initial public offering.
The number of shares and the price range have not been set yet. The company will trade on the New York Stock Exchange under the $TUBE ticker.
Bank of America Merrill Lynch, Citigroup, and RBC Capital Markets are managing the IPO, with BMO Capital Markets and Oppenheimer & Co. serving as co-managers.
It’s a time of exits in the video ad tech space (sound familiar?), with Tremor Video and YuMe going public and Adap.tv and FreeWheel getting acquired by AOL and Comcast, respectively, in the past year.
TubeMogul, for its part, has been seeing some healthy revenue growth. The company made $57.2 million in 2013, up 67% from $34.2 million the year before. What’s more, TubeMogul says its customers spent $112 million on the platform last year, double what they spent in 2012.
That said, like many others, TubeMogul isn’t profitable yet. Net losses rose to $7.4 million in 2013, from $3.6 million in 2012.Tags: Adap.tv, AOL, Comcast, FreeWheel, IPO, Startups, Tremor Video, TubeMogul, Video Ad Tech, Video Advertising, YuMe