DoubleVerify Shares Up 33% After NY Stock Exchange Debut

Shares in ad verification and measurement software firm DoubleVerify (DV) jumped 33%, following yesterday's first day of trading on the New York Stock Exchange. Funds from the initial public offering (IPO) will help drive global expansion, product development, and acquisitions.

Acquired by private equity firm Providence Equity Partners in 2017, New York-based DV offers MRC-accredited software that verifies the quality and effectiveness of digital ads. Its DV Authentic Impression solution provides clients with a single KPI to ensure each ad impression is viewable, fraud-free and meets brand safety requirements; and the firm also offers a suite of media authentication services called IQ Advanced Solutions, to increase the transparency and performance of video and display advertising across mobile and desktop platforms.

Listed under the ticker symbol DV, the firm raised around $360m in its initial public offering (IPO) with a target market value of $4 billion. Shares opened at $35, compared to the IPO price of $27, to reach a market value of more than $5.3 billion. Last year, the firm reported $244m in revenue, with 34% year-over-year growth, and adjusted EBITDA of $73m; and since its founding in 2008, DoubleVerify has raised $549.5m.

CEO Mark Zagorski (pictured) told Forbes magazine: 'The coming together of great financial momentum to the business and a market environment that is incredibly ripe, we're ready to enter the public markets to start funding, pretty aggressive expansion.'

Web site: www.doubleverify.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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