Wednesday, February 10, 2021

Viant Jumps In IPO

Irvine-based Viant, which develops advertising software, had a successful IPO on Wednesday, selling 10 million shares of its stock at $25 per share last night, above its initial estimated IPO price of $19.00 to $21.00 per share. The company jumped all the way to $47.72 per share in its first day of trading. Viant is led by technology veteran Tim Vanderhook, who founded Viant with brothers Chris and Russ. The company's long history--it was founded in 1999--includes the acquisition of MySpace in 2011, a 60% acquisition by Time Inc. in 2018, and the acquisition of Adelphic in 2017. The company's stock jumped all the way to $47.72 in trading on its first day of trading. The company is trading as DSP on the Nasdaq Global Market.