MNTN Aims for IPO with Morgan Stanley's Support, Featuring Ryan Reynolds' Creative Role

MNTN, a connected TV advertising platform with Ryan Reynolds as its CCO, is planning an IPO with Morgan Stanley's assistance. The company, which acquired Reynolds' Maximum Effort in 2021, may go public as early as 2025, with Morgan Stanley leading the process. MNTN specializes in advertising software and performance TV campaigns, having raised $119 million in a Series D round in 2021. Details of the IPO, including timing, are preliminary and subject to change.

The digital advertising landscape is continuously evolving, and one company that is making waves in the connected TV (CTV) advertising sector is MNTN. With Ryan Reynolds serving as its chief creative officer (CCO), the company is poised for a significant milestone: an initial public offering (IPO) [1]. Morgan Stanley has reportedly been chosen to lead the process [1].

MNTN is a platform that specializes in advertising software and performance TV campaigns. The company's MNTN Performance TV platform offers a suite of targeting, measurement, and automated optimization technology, enabling brands to effectively promote themselves on CTVs [1]. This is a growing market, with MNTN's customer base spanning 150 streaming networks, including prominent names like CNN, Discovery Plus, ESPN, Hulu, and Food Network [2].

The company's recent growth is noteworthy. In 2021, MNTN acquired Reynolds' creative agency, Maximum Effort, and raised a substantial $119 million in a Series D financing round [2]. This funding was co-led by funds and accounts managed by BlackRock and Fidelity, and the round closed in the fourth quarter of 2021 [2]. Prior to this, MNTN had raised around $65 million from investors such as Baroda Ventures, Greycroft Partners, Mercato Partners, Qualcomm, and Rincon Venture Partners [2].

MNTN's IPO plans have been under consideration for some time, with early 2025 being a potential target [1]. However, details such as timing are still preliminary and subject to change, and more banks may be added to the lineup [1].

Reynolds' involvement in the company is not only a notable addition to its executive team but also a testament to MNTN's commitment to innovation and excellence in the CTV advertising space. As the company continues to grow and evolve, its IPO will be an exciting development to watch.

References:

[1] "Ryan Reynolds-backed MNTN eyes IPO with Morgan Stanley as lead underwriter, sources say." Fortune. 27 Sep. 2024. https://fortune.com/2024/09/27/ryan-reynolds-morgan-stanley-ipo-mntn/

[2] "MNTN Announces $119 Million Series D Financing, Acquisition of Maximum Effort, and Launch of QuickFrame." Variety. 15 Jan. 2022. https://variety.com/2022/digital/news/mntn-funding-ryan-reynolds-1235168472/