DoubleVerify ($DV), an advertising verification platform for some of the world's largest brands, made a strong public debut Wednesday on the New York Stock Exchange, popping 28 percent at the open and bringing its market cap to more than $5 billion.
CEO Mark Zagorski said a combination of "internal financial momentum" and high demand for its product amid a spike in digital advertising spurred the decision to go public.
"The combination of great internal metrics plus an environment that's just really ripe for our solution came together at the right time, and it was just a great opportunity for us to go out and tap into the public markets for additional capital to grow the business," he told Cheddar.
DoubleVerify sells software to companies allowing them to track their digital advertisements. This includes everything from basic analytics to fraud-tracking.
The ad-tech company made $244 million in revenue in 2020, up 34 percent growth from the previous year, according to Zagorski. He added that the past year has really proven the "resiliency" of the business model, which he stressed stands apart from other publicly listed ad-tech companies.
"Even as ad dollars fluctuate, where we sit in that kind of stack is we're a utility," he said. "When advertisers have less dollars to spend, every dollar they spend becomes that much more important. So, solutions like ours, which ensure that an ad isn't wasted on fraud or an impression that's not viewable or that goes to a bot, becomes that much more important."
To the regular internet user, DoubleVerify's presence is basically invisible. But for the advertiser, the verification software is crucial to make sure an ad is reaching its intended audience.
"When we do our job right, this is a seamless operation," Zagorski said.
With 15 global markets under its belt, DoubleVerify plans to continue expanding around the world. "Our solution is global in nature. Fraud doesn't have a regional home," he explained.
The Rev. Al Sharpton is set to lead a protest march on Wall Street to urge corporate America to resist the Trump administration’s campaign to roll back diversity, equity and inclusion initiatives. The New York civil rights leader will join clergy, labor and community leaders Thursday in a demonstration through Manhattan’s Financial District that’s timed with the anniversary of the Civil Rights-era March on Washington in 1963. Sharpton called DEI the “civil rights fight of our generation." He and other Black leaders have called for boycotting American retailers that scaled backed policies and programs aimed at bolstering diversity and reducing discrimination in their ranks.
President Donald Trump's administration last month awarded a $1.2 billion contract to build and operate what's expected to become the nation’s largest immigration detention complex to a tiny Virginia firm with no experience running correction facilities.
Chipmaker Nvidia is poised to release a quarterly report that could provide a better sense of whether the stock market has been riding an overhyped artificial intelligence bubble or is being propelled by a technological boom that’s still gathering momentum.
Cracker Barrel said late Tuesday it’s returning to its old logo after critics — including President Donald Trump — protested the company’s plan to modernize.
Low-value imports are losing their duty-free status in the U.S. this week as part of President Donald Trump's agenda for making the nation less dependent on foreign goods. A widely used customs exemption for international shipments worth $800 or less is set to end starting on Friday. Trump already ended the “de minimis” rule for inexpensive items sent from China and Hong Kong, but having to pay import taxes on small parcels from everywhere else likely will be a big change for some small businesses and online shoppers. Purchases that previously entered the U.S. without needing to clear customs will be subject to the origin country’s tariff rate, which can range from 10% to 50%.
Southwest Airlines will soon require plus-size travelers to pay for an extra seat in advance if they can't fit within the armrests of one seat. This change is part of several updates the airline is making. The new rule starts on Jan. 27, the same day Southwest begins assigning seats. Currently, plus-size passengers can pay for an extra seat in advance and later get a refund, or request a free extra seat at the airport. Under the new policy, refunds are still possible but not guaranteed. Southwest said in a statement it is updating policies to prepare for assigned seating next year.
Cracker Barrel is sticking with its new logo. For now. But the chain is also apologizing to fans who were angered when the change was announced last week.
Elon Musk on Monday targeted Apple and OpenAI in an antitrust lawsuit alleging that the iPhone maker and the ChatGPT maker are teaming up to thwart competition in artificial intelligence.
