Marin Software Jumps 25% In IPO

Posted Mar 22, 2013

Marin Software is an online advertising management company used by advertisers and agencies.  Marin helps advertisers manage their paid search, social media, display ads, and mobile campaigns.  The company went public today on the NYSE with the symbol “MRIN.”  Marin priced their 7.5 million shares at $14 each.

The company raised around $105 million with a valuation of about $425 million from the IPO.  The company’s stock grew around 40% before going down again and is still up about 25% as of the time that I was writing this article.  It is currently trading at slightly under $18.

Marin Software originally priced their IPO at $11-$13 for 7 million shares.  However the company expanded their offering due to stronger demand.  Marin can be used to run campaigns on Google, Bing, and Facebook.  Marin’s revenues have tripled in the last 3 years.  Some of Marin’s customers include PriceGrabber and Symantec.

Marin hit around $42.5 million in revenues in the first 9 months of the fiscal year 2012.  This is almost double the $24.7 million that they made in the first 9 months one year before that.  Unfortunately, they still reported a net loss of over $19.2 million for the period compared to $13 million a year before.

Marin raised $79.5 million across 6 rounds of funding.  Investors in Marin include Benchmark Capital, DAG Ventures, Focus Ventures, and Triangle Peak.