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Online video advertising company YuMe rises 8 pct in debut
August 7, 2013 / 1:51 PM / 4 years ago

Online video advertising company YuMe rises 8 pct in debut

Aug 7 (Reuters) - Shares of YuMe Inc rose as much as 8 pct in their market debut after the online advertising company’s initial public offering was priced 25 percent below the low end of the expected range.

The company, which delivers Web-based video advertisements, priced its offering of 5.1 million shares at $9 per share and raised $46 million. It had initially set a range of $12-$14 per share.

YuMe shares touched $9.73, valuing the company at $309 million. It has 31.67 million shares outstanding.

YuMe is backed by venture capital firms Khosla Ventures and Accel Partners, which together now own 34 percent of the company.

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