Ryan Reynolds-Backed MNTN Raises $187M in US IPO

MNTN, an Austin-based connected TV performance marketing platform led by CEO Mark Douglas and with Hollywood actor Ryan Reynolds as chief creative officer, raised $187.2 million in its initial public offering priced at $16 per share, the top end of its marketed range. The IPO values the company at approximately $1.24 billion and was oversubscribed by 14 times, signaling strong investor confidence amid improving market conditions after an earlier delay due to tariff-related uncertainties. MNTN's platform focuses on helping businesses, many of which are new to TV advertising, generate revenue through on-demand TV ads, with ads on its platform estimated to have generated $27 billion in revenue from 2019 to 2024. Major investors such as BlackRock and Fidelity participated in the offering, with BlackRock showing interest in purchasing up to $30 million worth of shares. The company will begin trading on the New York Stock Exchange under the ticker symbol "MNTN," and the successful IPO is seen as a potential bellwether for other public listings in a volatile market environment. CEO Mark Douglas retains significant voting power post-IPO, and the company aims to provide greater transparency for customers using its platform to optimize digital ad placements.