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Viant Soars on First Trading Day

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.”

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Kevin Costelloe
Kevin Costelloe
Tech reporter at Orange County Business Journal
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