Connected TV advertising platform
MNTN Inc. is considering launching its
initial public offering
as soon as next week, according to people familiar with the matter, after delaying its plans amid
tariff-induced market volatility
.
The Austin-based company, which counts Hollywood star
Ryan Reynolds
as its chief creative officer, updated its filings with the
United States Securities and Exchange Commission
at the end of April to disclose fresh financial information.
MNTN had a net loss of $21.1 million on revenue of $64.5 million for the first three months of 2025, compared with a net loss of $15.7 million on revenue of $43.8 million in the same period a year earlier, according to the filing.
Deliberations are ongoing and details of the IPO preparations including the timing could change, the people said, asking not to be identified because the information isn’t public. A representative for MNTN referred to the company’s filings and declined to comment further.
The company joins a growing cohort of candidates that suspended their IPO plans after President Donald Trump’s tariff announcements on April 2 and are now resuming preparations. Trump’s so-called Liberation Day delivered a jolt of volatility to stocks, with the VIX Index soaring and bringing dealmaking to a crashing halt.
EToro Group Ltd., which had paused its IPO plan in April, filed on Monday for an offering to raise as much as US$500 million for the company and some of its investors.
MNTN has transferred its interest in Maximum Effort, Reynolds’ creative agency which it acquired in 2021, to an affiliate of its original owner, the filing shows. The company has entered a new contract with Maximum Effort to provide creative services.
The company’s MNTN Performance TV platform offers a suite of
targeting, measurement and automated optimization technology
, according to its website.
In 2021, MNTN raised US$119 million in a Series D financing round co-led by funds and accounts managed by
BlackRock Inc.
and Fidelity Management & Research Co., which together invested about $110 million, according to a statement at the time. MNTN’s investors also include Qualcomm Ventures, Greycroft and Bonfire Ventures.
The IPO is being led by Morgan Stanley, Citigroup Inc. and Evercore Inc. The company expects its shares to trade on the New York Stock Exchange under the symbol MNTN.
—With assistance from Bailey Lipschultz.
Bloomberg.com
Ryan Reynolds’ MNTN weighs IPO launch soon as next week
2025-05-09 14:03:53
