It looks as if TubeMogul's (NASDAQ:TUBE) IPO underwriters left some money on the table: Shares closed at $11.50, up 64.3% from a $7 IPO price and within the company's original $11-$13 range. They're up another 2.2% AH.
Investor skepticism about video ad tech plays in the wake of Tremor Video and YuMe's weak 2013 IPOs apparently affected TubeMogul's pricing. "We were surprised by the distaste that some investors have for the digital advertising technology sector," says CEO Brett Wilson.
Wilson insists TubeMogul, which offers brands and ad agencies a software platform for planning, running, and monitoring programmatic video ad campaigns, is "just fundamentally different from Tremor and YuMe," and argues the amount of control given to clients by its platform acts as a differentiator. He also notes revenue grew nearly 130% in Q1, albeit off a small base.