Digital advertising tech company Viant Technology Inc. (Nasdaq: DSP) in Irvine made its public trading debut today, and the shares promptly shot up to double the revised pricing range.
Shares were trading at $45.50 as of 12.17 p.m. in New York on the Nasdaq index. That gave the company a market cap of about $2.5 billion, according to news agency Reuters.
The company said Monday it had boosted the pricing range from $22 to $24 for the initial public offering. The shares were later priced at $25 apiece.
“The company has been doing well, that’s a big reason why we’re going public,” co-founder and Chief Operating Officer Chris Vanderhook told the Business Journal as trading continued. “There is a tremendous opportunity in front of us.”
