TubeMogul Files for IPO, Aims to Raise $75M
As was widely expected, online video media buying platform TubeMogul has filed with the SEC for an initial public offering (IPO) looking to raise up to $75 million. The company is requesting the NYSE (New York Stock Exchange) symbol "TUBE."
According to the company's S1 filing, TubeMogul counted a total revenue of $57.2 million for 2013 (up from $34.2 million and $15.7 million for 2012 and 2011). That wasn't enough to make it profitable, though: the company had a net loss of $7.4 million in 2013 (up from $3.6 million and $4.1 million in 2012 and 2011).
The S1 reveals TubeMogul's thoughts on the online video ad business and the direction it will grow. Citing data from Magna Global, it says that brands will increase their digital video ad spending from $8.3 billion in 2013 to $22.5 billion in 2017. TubeMogul serves that market by giving advertisers a single platform for planning, buying, measuring, and advertising ad campaigns. It plans to grow by increasing its global customer base, getting customers to increase their share of video ad spending on the TubeMogul platform, and expanding into the TV advertising market.
The online video ad space is coming into its own, with this filing following several high-profile movies. Tremor Video and YuMe have already gone public, while AOL purchased Adap.tv in August, 2013, and Comcast purchased FreeWheel just this month.
The combined independent solution will let agencies and brands buy targeted ad placement across desktop, mobile and television.
2015 should be a strong year for programmatic digital video ad buying, with TV ad budgets finally shifting to online content.
Using open source technology that it created, TubeMogul lets all advertisers know if their videos have a chance of being seen.
Brands can achieve higher completion rates by understanding the motivations that drive its viewers.
After analyzing millions of pre-roll video ads, TubeMogul finds that mobile viewers prefer evenings late in the week.