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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I think the NSA has a job to do and we need the NSA. But as (physicist) Robert Oppenheimer said, “When you see something that is technically sweet, you go ahead and do it and argue about what to do about it only after you’ve had your technical success. That is the way it was with the atomic bomb.”

— Phil Zimmerman, PGP inventor and Silent Circle co-founder, in an interview with Om Malik