Criteo’s ambitious stock offering followed the successful ad tech path already blazed by Rocketfuel last month.
Today, after seeing robust demand from investors to buy shares in its public offering, Criteo’s stock jumped from $31 to $45. The stock is now at $39, closer to a 25 percent rise, settling down since it shot up at the start of the day. At the current stock price, Criteo is valued at about $2.15 billion. Currently, the company is worth about $2.3 billion based on the rising share price.
The ad tech firm, which delivers 25,000 impressions a second across the Web mostly for e-commerce clients, is the latest to turn to Wall Street to go public and raise money.
In September, Rocket Fuel had the most successful initial public offering of 2013 in which its stock nearly doubled on day one.
France-based Criteo, which listed on the Nasdaq exchange, raised about $220 million selling shares at the initial price of $31.
Rocketfuel’s stock went from $29 to $56.10 in its debut, raising $116 million for the company and reaching a valuation of about $1.8 billion.
Criteo has reported that it generated about $155 million in revenue last quarter, which represented about 55 percent growth from September 2012.
The company says it generates 1.5 billion clicks a year through its targeted display ads.
Costs have been rising, however, and Criteo posted a $6.8 million loss in the first six months of the year.