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

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Ad software company Viant valued at $2.5 billion in Nasdaq debut
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Shares of Viant Technology Inc 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.

“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.

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