Marin Software went public today. The online advertising management platform’s initial public offering (IPO) raised $105 million, as the company sold 7.5 million shares of stock at $14 per share – exceeding expectations of 7 million shares.
Marin stock (MRIN) was trading on the New York Stock Exchange $17.38 as of this writing.
In a Q&A with Fortune today, Marin’s CEO Chris Lien addressed one of the biggest concerns after the company filed for its IPO: that they didn’t expect to be profitable in the “foreseeable future.”
“We’re saying we’ll lose money through 2015, and some investors just don’t want to invest in a money-losing company,” Lien said. “But masked in those losses are our high growth rate, our spending on sales and marketing and R&D that will help us make money in the future. The investors who took the time to understand our per unit economics realized how we could become a leader in an under-penetrated market, and they put in orders.”
The San Francisco-based company provides software that allows marketers to track and optimize paid advertising campaign performance on multiple platforms, including Google, Bing, Facebook, and Baidu.