Integral Ad Science today announced the pricing of its initial public offering of 15,000,000 shares of common stock at a price of $US18 per share. The underwriters have a 30-day option to purchase up to an additional 2,250,000 shares of common stock from IAS.
The company’s debut on the NASDAQ saw shares surge and close up 14 per cent, according to CNBC.
IAS’s first day on the exchange saw the company achieve a value of approximately $US3.3 billion.
IAS CEO Lisa Utzschneider [pictured] told CNBC that the company is helping brands count their human impressions.
“Think of a Coke ad running on YouTube,” she said.
“We verify that the ad has been viewed by a human, it ran adjacent to brand-safe and brand-suitable content. And we also offer a contextual targeting solution helping the Cokes of the world seek out content that is appropriate for their brands or content that they want to avoid.”
Utzschneider added that the IPO will help IAS hire more data scientists and engineers and will be used to make strategic acquisitions.
IAS’s IPO follows DoubleVerify’s recent move to go public.
It also comes at a time where many ad tech stocks are performing well.
On the back of Google’s decision to delay the deprecation of third-party cookies on Chrome last week, shares for companies such as The Trade Desk, Criteo, LiveRamp and Magnite all surged ahead.
