Peter Kafka

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Tremor Video Files for IPO

tremor_videoTremor Video, a big video ad network that has long been eyeing a public offering, has finally decided to go ahead with one. The New York-based company just filed its S-1, and should be headed out on a road show within the next month.

Here’s the summary of what Tremor executives will be telling investors:

  • Last year they lost $16.4 million on revenue of $105.2 million; the previous year, they lost $21 million on revenue of $90.3 million.
  • During that same time period, gross margins improved from 35.2 percent to 41.7 percent.
  • Its ads run on more than 500 websites and mobile apps.
  • Big backers include Canaan Partners, which owns more than 19 percent of the company, as well as W Capital, Masthead Venture Partners, Meritech Capital, DFJ and General Catalyst.
  • Tremor wants to raise at least $86 million, and plans to trade on the NYSE as TRMR.

Video industry officials expect that rival video ad nets YuMe and may also go public this year; all of them will be looking to compete in a space dominated by Google’s YouTube, along with smaller players like Hulu.

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