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YuMe rang the opening bell at the NYSE this morning.

YuMe is a video ad network. Its stock began trading at $9 a share, raising $46 million through the offer of 5.1 million shares. This is significantly less than when the company filed for an initial public offering (IPO) in July,  when it aimed to raise $65 million with stock priced at $12 to $14 a share. The price stayed fairly consistent over the course of the day with a high of $9.86 and a low of $8.73.

YuMe provides digital video advertising technology that pairs online videos with relevant audiences. It connects advertisers and video-content creators so videos appearing on mobile devices, computers, or connected televisions can include advertising revenue in their monetization plans. The software also collects data from every campaign and analyzes it so brands and publishers can target the right audiences and optimize their ad budgets.

Consumers are increasingly consuming TV online and advertisers have had to respond accordingly. Advertising online presents different requirements and challenges, such as how to reach your target audience and adapt your campaigns to the multitude of channels, devices, operating systems, technologies, and policies. YuMe helps brand advertisers with this shift.

The video ad market is expected to more than double to $9 billion in 2017, up from $4.14 billion this year. It is a hot space, and just this morning AOL bought video ad startup for $405 million. However, and the public markets have be tough for ad tech firms recently. Video ad network Tremor Video went public earlier this year and is currently trading at around $8, which is down from the initial offering price of $10. This is part of the reason why YuMe decided to lower its share price.

YuMe was founded in 2004 and launched in 2007. It has raised $72.9 million from Accel Partners BV Capital DAG Ventures Intel Capital Khosla Ventures Menlo Ventures Samsung Ventures and Translink Capital.

For more about the changing landscape of advertising, check out VentureBeat’s mobile ad index. 

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