Latest news with #MarkDouglas
Yahoo
24-05-2025
- Business
- Yahoo
Adtech Firm MNTN Hits $1.6 Billion Valuation, Signaling IPO Market Rebound
MNTN, Inc. (NYSE:MNTN), an advertising platform for internet-connected TVs, reached a valuation of $1.62 billion after its shares surged 31.25% during their first day of trading on the NYSE, reflecting renewed investor interest in the IPO market. The company's stock opened at $21 per share, well above its $16 IPO price, boosting confidence for other firms eyeing initial public offerings. Actor Ryan Reynolds, who became MNTN, Inc. (NYSE:MNTN)'s chief creative officer after the platform acquired his agency Maximum Effort in 2021, has remained in that role even after MNTN sold off Maximum Effort in March. Despite the milestone, Reynolds did not attend the IPO in New York, according to CEO Mark Douglas. On May 21, MNTN, Inc. (NYSE:MNTN) and existing shareholders sold a total of 11.7 million shares at the top end of the $14–$16 range, raising $187.2 million. The offering included 8.4 million shares from MNTN and 3.3 million from current investors. Underwriters, including Morgan Stanley, Citigroup, and Evercore, also have a 30-day option to buy an additional 1.8 million shares at the IPO price. MNTN, Inc. (NYSE:MNTN)'s public debut follows eToro's successful NASDAQ launch and marks a strong moment for IPOs after recent delays tied to tariff-related uncertainty. CEO Mark Douglas said the move to go public is meant to capitalize on rising demand for performance-based CTV ad solutions. The platform is especially popular among small and mid-sized businesses, with 96% of users trying TV advertising for the first time through MNTN. Investor demand for MNTN, Inc. (NYSE:MNTN)'s shares was strong, about 14 times the number available, further reinforcing the decision to pursue a public listing. While we acknowledge the potential of MNTN to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than MNTN and that has 100x upside potential, check out our report about this cheapest AI stock. READ MORE: and Disclosure. None.
Yahoo
23-05-2025
- Business
- Yahoo
Adtech Firm MNTN Hits $1.6 Billion Valuation, Signaling IPO Market Rebound
MNTN, Inc. (NYSE:MNTN), an advertising platform for internet-connected TVs, reached a valuation of $1.62 billion after its shares surged 31.25% during their first day of trading on the NYSE, reflecting renewed investor interest in the IPO market. The company's stock opened at $21 per share, well above its $16 IPO price, boosting confidence for other firms eyeing initial public offerings. Actor Ryan Reynolds, who became MNTN, Inc. (NYSE:MNTN)'s chief creative officer after the platform acquired his agency Maximum Effort in 2021, has remained in that role even after MNTN sold off Maximum Effort in March. Despite the milestone, Reynolds did not attend the IPO in New York, according to CEO Mark Douglas. On May 21, MNTN, Inc. (NYSE:MNTN) and existing shareholders sold a total of 11.7 million shares at the top end of the $14–$16 range, raising $187.2 million. The offering included 8.4 million shares from MNTN and 3.3 million from current investors. Underwriters, including Morgan Stanley, Citigroup, and Evercore, also have a 30-day option to buy an additional 1.8 million shares at the IPO price. MNTN, Inc. (NYSE:MNTN)'s public debut follows eToro's successful NASDAQ launch and marks a strong moment for IPOs after recent delays tied to tariff-related uncertainty. CEO Mark Douglas said the move to go public is meant to capitalize on rising demand for performance-based CTV ad solutions. The platform is especially popular among small and mid-sized businesses, with 96% of users trying TV advertising for the first time through MNTN. Investor demand for MNTN, Inc. (NYSE:MNTN)'s shares was strong, about 14 times the number available, further reinforcing the decision to pursue a public listing. While we acknowledge the potential of MNTN to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than MNTN and that has 100x upside potential, check out our report about this cheapest AI stock. READ MORE: and Disclosure. None.
Yahoo
22-05-2025
- Business
- Yahoo
Ryan Reynolds-Backed MNTN Stock Jumps on IPO Day
Investors tuned in to television ad-tech company MNTN's IPO today. Shares of MNTN, which now trade on the New York Stock Exchange with the ticker symbol "MNTN," finished Thursday's session above $26 apiece, up 26% from their open and more than 60% from their $16-per-share IPO price. (At its intraday high, it changed hands at just under $27.) That IPO price was at the high end of the expected range the company shared when it announced its intent to go public earlier this month. (CEO Mark Douglas during a Bloomberg interview today referred to the company as "Mountain.") MNTN's deal wasn't the only IPO to attract attention today: Digital physical therapy company Hinge Health also hit the markets, finishing the session with its share above their IPO price. MNTN sold 8.4 million shares to the public, raising about $134 million. The company in a regulatory filing said it planned to use the money for 'general corporate purposes,' citing a broad range of potential uses including acquisitions. It lists Canadian Hollywood star Ryan Reynolds, known for but surely not only for 'Two Guys, A Girl and a Pizza Place,' as its chief creative officer. The company reported more than $225 million in sales from more than 2,200 customers last year, according to its filing, and a net loss of about $33 million. This article has been updated since it was first published to include a mention of the Hinge IPO. Read the original article on Investopedia
Yahoo
22-05-2025
- Business
- Yahoo
The CEO of MNTN got his start teaching himself how to code: He just took the company public with Ryan Reynolds
The Ryan Reynolds-backed $1.2 billion adtech firm MNTN is debuting on the New York Stock Exchange today. But the company's secret to success hasn't been all Hollywood publicity, rather its emphasis on coding: 'I consider myself more of a software engineer than I do a CEO,' Mark Douglas, MNTN CEO tells Fortune. You may know Ryan Reynolds as Deadpool or the co-founder of soaring British soccer team Wrexham AFC. However, the 48-year-old just obtained a new title: chief creative officer of a publicly-traded software company. MNTN, an advertisement technology firm, began trading on the New York Stock Exchange today, seeking a valuation of over $1.2 billion. For any business, an IPO is one of the biggest achievements and a way to drum up brand awareness. But for Reynolds—whose digital marketing agency, Maximum Effort, was acquired by MNTN in 2021—it marks just the beginning, he tells Fortune in a statement. 'MNTN basically Houdini'd one of the most complicated parts of advertising—getting great ads on TV—and made it incredibly simple,' Reynolds says. 'Maximum Effort and I are not exactly coders, but we can help with creating emotional investment.' Despite the TV advertising industry being turned on its head by cable and streaming cord-cutters, the company grew revenue by 28% to $225 million last year. The company's decision to operate like a top tech company has been integral to success, according to its CEO Mark Douglas. 'It led to not just creating a product, but creating a segment of the market,' Douglas tells Fortune, adding that a third of the company's 500 team members now work in engineering—including, sometimes, himself. By the end of the year, it'll be half. Douglas grew up in the heart of New York City. Living with a single mom, he tells Fortune, he would visit the NYSE for fun (back when it was far easier to get inside) to marvel at the wonders of Wall Street trading. But little did he know he'd one day become a prominent business executive himself. His entrepreneurial drive, he says, all started when he taught himself how to code. In fact, Douglas' first job was using his self-taught computer skills to create software for Wall Street banks. From there, he landed top tech-related roles at Oracle, eHarmony, and Magnite before starting MNTN, where he began hiring a team of exceptional coders in order to reshape the TV advertising sector. 'I consider myself more of a software engineer than I do a CEO,' Douglas says. And while he doesn't spend much time coding anymore, his background in tech has made his job far easier, because it helps him understand the possibilities and limitations of his team. Today, 70% of his time is spent focused on product or engineering. As CEO, Douglas tends not just to sit behind a door in a corner office. He's mingling with his team everyday—even in the parking lot. 'I'm not necessarily, in the last two or three years, hands-on keyboard coding. But I'm in the 'Daily Parking Lot' every single day,' Douglas says, referring to a two-hour block of time dedicated to discussing architecture features, named after his team's brainstorming walks. They always wound up thinking of great ideas in their office parking lot. 'It's blocked out on my calendar two hours a day, indefinitely, every business day.' Reynolds says this quirky practice is emblematic of Douglas' persistence and hands-on leadership style: 'Any great leader is made in moments of struggle, not success,' Reynolds says. 'The Mark you see on CNBC is the exact same one you get in private, and I've seen that calm, confident, and insightful approach up close in some really tough situations. He doesn't wilt or waver, and that's exactly what you look for in a business partner.' This story was originally featured on
Bloomberg
22-05-2025
- Business
- Bloomberg
Ryan Reynolds' Ad Firm Raises $187 Million in IPO
Advertising company MNTN and its shareholders raised $187 million in an initial public offering priced at the top of a marketed range. Shares are to begin trading on the New York Stock Exchange Thursday. The Austin-based company — that counts Hollywood star Ryan Reynolds as its chief creative officer — suspended their listing plans after President Donald Trump's tariff announcement on April 2. MNTN CEO Mark Douglas joined "Bloomberg Open Interest" live from the New York Stock Exchange. (Source: Bloomberg)
