MNTN CEO Mark Douglas Talks IPO

Mark Douglas, CEO at MNTN, talks about going public today and raising funds at the top of the marketed range. Ryan Reynolds’ Ad Firm MNTN, Holders Raise $187 Million in IPO as the company has a market value of about $1.24 billion and a fully diluted value of about $1.6 billion, with Founder and CEO Mark Douglas set to have 26% of the voting power after the offering. He joined Bloomberg's Tom Keene and Paul Sweeney from the floor of the NYSE.

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Episode Transcript

Speaker 1 (00:02):
Bloomberg Audio Studios, podcasts, radio news. Mark Douglas, CEO Mountain
Joins US. Mark talked to us about the IPO process here.
What was a message you guys were delivering to prospective
shareholders here during your IPU.

Speaker 2 (00:17):
Well, I think the key message was that we had
created a new segment of the television advertising market where
we're bringing small and mid sized companies into the market
for the first time on our platform, where they can
advertise on TV the same way they could previously do
on search and social. And so our customers have responded
to that and we very please, like all the investors

(00:40):
we met with on the road show responded just as well.

Speaker 3 (00:43):
When you go into a meeting, do you take Ryan
Reynolds into the meeting?

Speaker 2 (00:47):
Well, he showed up on the teaching you know with
the first day of a road show, you meet with
all the banks and all the people, and he was there.
Was it was pretty fun meeting. So we had a
good time.

Speaker 3 (00:58):
So what's the distinction here, help pauling me. We're out
on YouTube. It's building every day. Mark, We're just overwhelmed
by the you know, as Colin of the Twins as
a discoverability factor, how is ed revenue going to fold
into YouTube creators, whether they're hipsters like Lisa Matteo's kids
or their fossils like me and Paul Sweeney.

Speaker 2 (01:21):
Yeah, so YouTube, something like YouTube, it's not competing with
something like stream with streaming television, which is the market
that we're in. It's actually people are just expanding their
entertainment consumption. So more people watch TV a day than
use social media. It's the highest engagement channel of any
entertainment medium. So you see streaming growing, obviously, YouTube, social

(01:43):
all continue to grow as people just consume more content
and as a result, you know, companies or small mid
sized businesses can now connect with those people and do
that with Mountain, do that obviously with Google and so forth.
So we're you know, it's it's great for everyone.

Speaker 1 (01:58):
Mark The month of May is a very important part
of the year for global television business. Here we have
the upfronts where the broadcasting cable networks and pretty much
everybody else out there is trying to sell ad space
shows everybody what they're going to be broadcasting in the
upcoming year, and they ask advertisers to step up and
commit dollars for the upcoming television season. How are the

(02:21):
stow fronts this year, and how would you characterize the
upfronts this year? And what are advertisers thinking about with
maybe some uncertain economic times.

Speaker 2 (02:29):
Yeah, so I think the advertisers are there for the upfronts.
And the thing that I think the whole industry is
really excited about is live sports on streaming. So you
see ESPN and other networks really focused on live sports.
Is kind of number one conversation I have with the
leaders at these networks. And so I think the upfronts
will be fine. I think our customers will do great.

(02:51):
They'll part they won't participate in the upfronts, but they
will participate in the availability of live sports is kind
of the year of live sports. So that's what you're
gonna see.