For ad tech bosses, the IPO dream is no longer just a late-night fantasy, it’s starting to look like a real possibility.
“Look” being the operative word. Nothing’s guaranteed but there is momentum. MNTN’s splashy debut on the New York Stock Exchange last week didn’t just grab attention, it lit a signal flare. Priced at $16 a share on May 21, the company hit the market with a $1.2 billion valuation – right at the top of investor expectations. By Friday, it was already at $28.
“This could be a meaningful moment for the CTV advertising ecosystem, even if MNTN itself is still relatively small in the grand scheme of AdTech,” said Karsten Weide, principal and chief analyst at W Media Research. “They’ve got a few strong things going for them: the backing of Morgan Stanley gives the IPO some institutional credibility, and the cachet of Ryan Reynolds as chief creative officer continues to generate attention well beyond the industry bubble.”
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