Adtech platform MNTN valued at $1.6 billion after successful IPO

From Yahoo Finance: 2025-05-22 12:35:00

MNTN, an ad platform for internet-connected TVs, saw its shares soar 31.25% in debut on NYSE, hitting a valuation of $1.62 billion. The IPO price was $16, opening at $21, raising $187.2 million. Founded in 2009, MNTN’s PTV offering gained nearly 89% in customers year-over-year.

MNTN’s success follows eToro’s Nasdaq debut, the first U.S. IPO post-tariff uncertainty. The company, founded by Mark Douglas, focuses on PTV marketing, catering to small and medium businesses shifting to streaming. The tech sector, less affected by tariffs, accounted for nearly 40% of U.S. deal signings this year.

CEO Douglas plans to increase engineers to 50% of employees by year-end. However, a wider consumer spending pullback could impact small businesses, which generated 91% of MNTN’s PTV revenue in Q1 2025. Despite global M&A slowdown, tech remains strong with a focus on intellectual property.

Read more: Adtech platform MNTN valued at $1.6 billion in another sign of IPO markets comeback