Marin Software CEO gets boost from IPO — and his co-founder

NYSE: Ben Hider

Marin Software founder and CEO Chris Lien, center, is shown surrounded by colleagues at the opening bell ceremony at the New York Stock Exchange.

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Cromwell Schubarth: Senior Technology Reporter- Silicon Valley Business Journal; Email | Twitter | Google

Marin Software CEO Chris Lien got a big boost at the New York Stock Exchange on Friday — and it wasn't just from a $105 million IPO that topped goals or the double-digit jump in his company's market debut.
It came from his 6-foot, 8-inch co-founder Wister Wolcott who moments before the opening bell grabbed 5-foot, 4-inch Lien and lifted him high above the podium in a moment of IPO exuberance.
"He didn't think the people on the floor could see me," laughed Lien when he explained the move to me a few hours later.
The co-founders and folks from Marin had a lot to be happy about with Friday's IPO:
— They sold 7.5 million shares in an oversubscribed public offering that was only supposed to sell 7 million shares.
— The IPO price for the stock was $15, above the target range of between $11 and $13.
— And the stock soared, selling at $19 at the opening bell and going as high as $19.95 before settling back down to around $17. That gave it a wide debut range of between 22 and 43 percent.
"It's hard to time an IPO. There is so much beyond your control," Lien told me.
"I never thought I would care so much about the country of Cyprus or how sheer Lululemon yoga pants might be as I was in the last two weeks," Lien said, recalling two unsettling market events that preceded Marin's IPO.
Marin executives can now focus on becoming cash-flow positive, something they say won't happen for at least two more years. "This IPO has been something of a full-time project for us," Lien told me.
The San Francisco company's cloud-based digital advertising platform helps customers manage their digital advertising spending across Google, Bing and other platforms. Marin is seen as being among the top three ad technology companies offering this type of service but there are plenty more contenders coming.

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Cromwell Schubarth is the Senior Technology Reporter at the Business Journal. His phone number is 408.299.1823.

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