Ad tech company Criteo raises $251 million by pricing upsized IPO at $31, above its upwardly revised $27-$29 range

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Criteo, a global online display ad retargeting company with over 4,000 clients, raised $251 million by offering 8.083 million ADSs at $31, above its upwardly revised range of $27 to $29.  The company originally filed to sell 7.2 million ADSs at a price of $23 to $26.

Criteo, which counts leading e-commerce and travel brands such as Expedia, Priceline.com, Macy's and Staples as clients, has experienced strong growth over the last few years, with total revenue reaching €272 million in 2012 ($354 million), up 89% over 2011.  For the 6 months ended June 30, 2013, Criteo's revenue rose 72% to €194 million.

Criteo is the latest ad tech company to go public over the last few months, joining predictive modeling ad platform Rocket Fuel ( FUEL ) and video ad networks YuMe ( YUME ) and Tremor Video ( TRMR ).  Rocket Fuel, which went public in September after similarly pricing well above its originally targeted range, soared 93% in its market debut. YuMe and Tremor are currently trading below their respective IPO prices.

The Paris, France-based company will list on the NASDAQ on Wednesday under the symbol "CRTO". J.P. Morgan, Deutsche Bank and Jefferies & Co. acted as bookrunners on the deal.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: News Headlines , IPOs

Referenced Stocks: CRTO , FUEL , TRMR , YUME

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