Wednesday, August 7, 2013

YuMe Flat In IPO

Redwood City-based YuMe is trading flat in its IPO this morning, after debuting at $9 per share this morning. YuMe priced its IPO at $9 per share last night, selling 5.1 million shares of its common stock in its IPO offering. The firm priced below an original, estimated range of $12.00 and $14.00 per share. YuMe debuted on the NYSE as YUM this morning. The company was hovering slighly above $9.00 in morning trading. YuMe was venture backed by Khosla Ventures, Accel Partners, DAG Ventures, Menlo Ventures, and BV Capital. The company had filed for its IPO in July. YuMe provides digital advertising services for Internet-enabled television.