Marin Software went public today. The online advertising management platform's initial public offering (IPO) raised $105 million, as the company sold 7.5 million shares of stock at $14 per share – exceeding expectations of 7 million shares.
Marin Software went public today. The online advertising management platform’s initial public offering (IPO) raised $105 million, as the company sold 7.5 million shares of stock at $14 per share – exceeding expectations of 7 million shares.
Marin stock (MRIN) was trading on the New York Stock Exchange $17.38 as of this writing.
In a Q&A with Fortune today, Marin’s CEO Chris Lien addressed one of the biggest concerns after the company filed for its IPO: that they didn’t expect to be profitable in the “foreseeable future.”
“We’re saying we’ll lose money through 2015, and some investors just don’t want to invest in a money-losing company,” Lien said. “But masked in those losses are our high growth rate, our spending on sales and marketing and R&D that will help us make money in the future. The investors who took the time to understand our per unit economics realized how we could become a leader in an under-penetrated market, and they put in orders.”
The San Francisco-based company provides software that allows marketers to track and optimize paid advertising campaign performance on multiple platforms, including Google, Bing, Facebook, and Baidu.
This article was originally published on http://searchenginewatch.com/sew/news/2257014/marin-software-raises-usd105-million-in-ipo.
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