MNTN Debuts on NYSE with 14% Surge Backed by Ryan Reynolds and Qualcomm Ventures
Deal News | May 22, 2025 | Qualcomm Ventures LLC
MNTN Inc, an advertising technology company backed by Hollywood actor Ryan Reynolds and Qualcomm Ventures, made its highly anticipated market debut. The IPO, led by Morgan Stanley, Citigroup, and Evercore ISI, saw its shares climb 14% in early trading, indicating strong investor interest. MNTN, based in Austin, focuses on ad-supported streaming television, leveraging its Performance TV platform to cater to small and medium businesses. In 2024, the platform boasted over 2,225 customers, generating $205.3 million in revenue—a 35.5% increase. Despite the pandemic-related challenges and past uncertainties due to trade policies, the stock's success reflects a renewed opening of the IPO market.
Sectors
- Advertising Technology
- Streaming Media
- Financial Markets & Services
Geography
- United States – MNTN is based in Austin, Texas, and its IPO took place on the New York Stock Exchange, relevant to U.S. financial markets.
Industry
- Advertising Technology – MNTN operates in the advertising technology industry, using its self-serve platform, Performance TV, to provide ad targeting and measurement capabilities to businesses.
- Streaming Media – MNTN targets the streaming media sector with its ad-supported television solutions.
- Financial Markets & Services – The article relates to the financial industry due to MNTN's IPO and its listing on the NYSE.
Financials
- 1.2 billion – MNTN's approximate valuation based on its IPO share price.
- 16 – The price per share during MNTN's IPO, at the higher end of its expected range.
- 225.6 million – MNTN's total revenue reported for the last year.
- 32.9 million – MNTN's net loss for the last year, narrowed from a net loss of $53.3 million in the previous year.
- 205.3 million – Revenue generated by MNTN's Performance TV platform last year.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| MNTN Inc | Target Company | Company | An advertising technology company that offers ad targeting and measurement capabilities primarily through its Performance TV platform. |
| Qualcomm Ventures LLC | Investor | Company | Acts as a private equity investor in MNTN, supporting its growth and IPO debut. |
| Ryan Reynolds | Chief Creative Officer | Person | Hollywood actor and key figure involved with MNTN as its chief creative officer. |
| Morgan Stanley | Lead Underwriter | Company | A primary underwriter for MNTN's IPO. |
| Citigroup | Lead Underwriter | Company | A primary underwriter for MNTN's IPO. |
| Evercore ISI | Lead Underwriter | Company | A primary underwriter for MNTN's IPO. |
| Netflix | Competitor | Company | A leading streaming platform now featuring an ad-supported tier. |
| Amazon | Competitor | Company | A dominant player in streaming media offering extensive ad-supported services. |