Ad Tech Valuations Are Sky High – But Are They Justified?

Ad tech IPOs are back in fashion as online advertising continues to surge during the ongoing COVID-19 pandemic. In the first quarter of 2021 alone, there were seven ad tech transactions valued at more than $1 billion – double the number of unicorn-level deals that went down in the past few years combined. Public companies flush with cash thanks to their spiking valuations have been sharing the wealth or using the current market exuberance to go public with high IPOs. Magnite, for example, was able to buy SpotX for $1.17…

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Zeta Global Opens Its Books In Its IPO Filing

Zeta Global filed its S-1 paperwork Monday. Zeta has not yet determined the number of shares it will offer or the price. Zeta – whose offering combines marketing tech, ad tech and data services – reported $368.1 million in 2020 revenue, a 20.3% increase from the year before. Adjusted EBITDA was $39.6 million, up 62.7% from 2019. On that revenue, however, Zeta reported a net loss of $53.2 million. However, revenue growth and positive EBITDA are two signs investors look for when evaluating an IPO. Zeta describes itself as an…

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DoubleVerify Reveals Financials As Company Files S-1

Add another ad tech IPO to the pile, folks. DoubleVerify filed its S-1 Wednesday (read it) in its bid to IPO.  According to the filing, DoubleVerify experienced strong but slowing revenue growth last year. Gross revenue in 2020 was $244 million, a 34% increase from 2019 revenue of $183 million. The company’s 2018 revenue meanwhile was $104 million, reflecting a 75% increase from 2018 to 2019. Notably, DoubleVerify’s net income has increased dramatically, from $3 million in 2018 to $23.3 million in 2019 – though it dipped to $20.4 million…

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Unity Technologies: ‘The World Is Made Up Of Gamers’

Unity Technologies raised more than $1.3 billion during its IPO in September at a $13.6 billion valuation, proof positive that the gaming industry isn’t playing around. Roughly 750,000 creators, mainly game developers, use the Unity platform to build their apps, and Unity’s game engine powers game titles played on billions of devices around the world, including consoles, phones and PCs. In October, Unity introduced Game Growth, an accelerator program that provides indie free-to-play mobile game developers with resources and funding to scale their user acquisition and manage player engagement and…

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