Veritone Sets Estimated IPO Pricing Range

May 2nd, 2017

By: n/a

Newport Beach-based Veritone, a developer of cloud-based, artificial intelligence software, says it expects its IPO to be between $14.00 and $16.00 per share, as it launches its roadshow. Veritone is looking to list as VERI on the NASDAQ Capital Market and hopes to raise as much as $20M in its IPO effort. Veritone's IPO underwriters are Wunderlich, Craig-Hallum Capital Group, and Northland Capital Markets. Veritone's CEO is technology startup veteran Chad Steelberg. Veritone is backed by Newport Coast Investments and Acacia Research; Chad Steelberg and his brother, Ryan Steelberg, own the majority of the company. The two brothers previously headed up Brand Affinity Technologies (BAT), and the Steelbergs had founded dMarc Broadcasting, which the two sold to Google in 2006 for what, at the time, was a $1.2 billion price tag.