Video ad network Tremor Video has filed for its long-awaited public offering. The company’s shares will trade on the NYSE at TRMR and it wants to raise at least $86 million.
Tremor Video, which runs ads on more than 500 Web sites and mobile apps, disclosed in its S-1 filing that from 2011 to 2012 its revenue increased from $90.3 million to $105.2 million. During that period, its gross margin improved from 35.2% to 41.7%, due in part to the adoption of its performance-based pricing models, while its net loss decreased from $21 million to $16.6 million.
Since its founding in 2005, Tremor Video has received a total of $116 million in funding from Canaan Partners, Masthead Venture Partners, W Capital Partners, Meritech Capital, Draper Fisher Jurvetson, General Catalyst Partners, as well as investors Jason Glickman, Mark Pinney and James Rossman. Its IPO will be underwritten by Credit Suisse and Jefferies.