Innovid, a blockchain-powered platform for online video distribution, made its debut on the stock market recently. Innovid CEO Danny Rimer has stated that they are using all of their resources to build an ecosystem which will allow creators and storytellers to earn revenue from their projects without middlemen taking a cut.
The “innovid stock price” is a company that has just released their IPO on the public market. The stock price has risen in its debut.
Innovid Inc., a linked television advertising technology business, saw its stock increase Wednesday after it went public via a merger with a special-purpose acquisition company.
The business merger with Innovid was approved by ION Acquisition Corp 2 Ltd. shareholders on Monday. On Wednesday, Innovid started trading under the ticker symbol CTV on the New York Stock Exchange.
After starting at $8.30, Innovid shares were up around 7% in midday trade.
For companies including Toyota Motor Corp., GlaxoSmithKline PLC, and Anheuser Busch InBev SA, the New York-based firm helps create, deliver, and evaluate video commercials.
The demand for video entertainment has skyrocketed lately, owing to the fact that most people were at home during the epidemic. Innovid’s co-founder and CEO, Zvika Netter, stated the company’s connected TV revenue increased by 65 percent in the first three quarters of 2021 compared to the same time the previous year.
Zvika Netter is the co-founder and CEO of Innovid.
Photo credit: Innovid
Content transmitted via the internet on smart TVs or other devices is referred to as connected TV.
While streaming video providers compete for consumer attention, Mr. Netter believes Innovid can make money as long as advertisers are willing to spend money in the market.
“It makes no difference where the audience comes from or how they watch as long as it’s on the internet,” he added.
According to Mr. Netter, Innovid competes with Google’s Campaign Manager 360, which assists marketers and agencies in managing digital campaigns.
“In terms of the quantity of data they have, Google has a competitive edge,” said Sagar Thanki, a portfolio manager at Guinness Atkinson Asset Management, an investment management business.
He also said that Google has an edge in terms of the number of users it has. “Innovid, for example, advertises itself as being more focused and capable of greater execution in the linked TV sector. Whereas the Google stack is more wide, Innovid is more likely to appeal to clients who want to concentrate and get better execution on connected TV.”
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Despite its quick rise, the connected television market will only continue to expand, according to Tim Nollen, a senior media tech analyst at Macquarie Group. According to statistics from research company eMarketer, marketers in the United States would spend $14.44 billion on connected TV in 2021, up 60% from 2020.
“While CTV advertising is exploding, it is still a tiny part of overall TV ad expenditure, and it will stay so for a long time,” Mr. Nollen said. That means there’s plenty of area for a variety of players to deliver services in the space, he says.
Innovid also believes that the measuring side of the internet-supported television industry has a bright future. The Media Rating Council, the industry’s measurement body, said in September that it had decided to suspend Nielsen Holdings PLC’s National Television service’s certification.
Innovid, for example, would want to take a piece of that pie.
Mr. Netter of Innovid said, “There is a very substantial potential in CTV measuring in the future of TV measurement.”
To avoid the typical IPO procedure and acquire a public listing, private firms are flocking to special-purpose acquisition companies, or SPACs. The Wall Street Journal outlines why some opponents believe investing in these “blank-check” enterprises isn’t worth the risk. WSJ/Zo Soriano illustration
Megan Graham can be reached at [email protected]
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The “stock exchange today” is reporting that Innovid shares are being traded for the first time. The company has seen a rise in market debut.
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