Tremor Video's (TRMR) IPO isn't faring well. After pricing its 7.5M-share offering at $10, below a range of $11-$13, shares opened at $11 but have quickly fallen to $9.65, which translates into a 3.5% drop. That gives the provider of online/mobile video ad tech solutions a market cap of $468M, or 4.4x 2012 sales. Tremor posted Q1 revenue of $24.8M (+43% Y/Y), and a net loss of $9.1M. Tremor's VideoHub tech analyzes online videos and their context, as well as an ad campaign's goals and performance, to deliver targeted ads. The company considers YouTube, Hulu, and video ad networks such as BrightRoll to be among its competitors. (S-1) (IPO preview)