Video ad platform TubeMogul files for $75 million IPO

Steven Loeb · March 26, 2014 · Short URL:

TubeMogul saw $57 million in revenue in 2013, with a net loss of $7.4 million

The great IPO resurgence of 2014 continues!

Video ad platform TubeMogul filed its S-1 with the Securities and Exchange Commission on Tuesday, signaling its intention to go public. The company is looking to raise $75 million and plans to list on the New York Stock Exchange under the stock symbol “TUBE.”

Though it started out as a video analytics platform, TubeMogul has since pivoted to become a programmatic video advertising platform focused exclusively on the buy side of the digital media industry.

Unlike other ad networks, TubeMogul does not work directly with publishers and does not buy inventory and resell it. Instead, they provide a SaaS based platform that brands and agencies use to buy media from both public and private exchanges.

The platform automates the execution and optimization of video campaigns and generates analytics in real-time that are used to improve the brand impact of each campaign.

The company has two revenue channels: 1) transaction revenue based on spending levels from clients who adopt TubeMogul's software platform; 2) media revenue from selling campaigns at a fixed price that TubeMogul fulfills using exchange inventory bought in real-time.

TubeMogul's revenue increased healthily last year, going from $34.2 million in 2012 to $57.2 million in 2013. It made $19 million from Platform Direct, up from $5.4 million in 2012, while the other $37.8 million came from Platform Services, up from $28.7 million the year before. 

At the same time, though, the company’s net loss more than doubled, going from 3.6 million for 2012 to $7.4 million in 2013.

The company's biggest expense comes from sales and marketing, which cost the company $21 million in 2013, more than double the $10 million it spent in 2012. It also spent $10 million in general and administrative costs, as well as $11 million on research and development.

Founded in 2006, TubeMogul raised a total of $53 million in funding, most recently a $10 million Series C from SingTel Innov8, Cross Creek Capital, Digital Advertising Consortium, Foundation Capital and Trinity Ventures.

TubeMogul is only the latest tech company to file to go public this year. and have already gone public, while food delivery service Grubhub filed for a $100 million IPO and online storage company Box is looking to raise $250 million its public offering. 

Meanwhile, Candy Crush maker King, which is looking to raise $500 million, went public today and is not looking so hot. It is already down 12.76% from its $22.50 IPO price. It is currently trading at $19.63 a share. 

We reached out to TubeMogul for any further information about the upcoming IPO, including when the company plans to debut, but the company is currently in its quiet period and are unable to comment. 

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Founded in 2006 by online video buffs who met while in graduate school and won the UC Berkeley Business Plan Competition, TubeMogul's objective from the start has been to empower online video producers, advertisers and the online video industry by providing publishing tools and insightful, easy to interpret analytics.

With TubeMogul, users upload videos once and TubeMogul deploys them to as many of the top video sharing sites the producer chooses. TubeMogul's integrated analytics then provide a single source of metrics on where, when, and how often the videos are viewed. TubeMogul's free beta service has been live since November of 2006. In January 2008, TubeMogul announced the launch of its Premium Products, which include a host of new professional features.