Tremor Video Inc. (NYSE:TRMR)
Tremor Video Inc. (NYSE:TRMR) shares rose 2.30% after the video software monetization company announced plans to change its name to Telaria Inc. as part of a rebranding strategy. In addition to the name change, the company also released a new corporate logo and brand platform as part of the updated strategy.
Tremor Video Rebranding
The proposed changes are geared towards transforming Tremor Video Inc. (NYSE:TRMR) into a fully programmatic software platform for premium video partners. Telaria will also position itself to be a data-enriched platform that is able to monetize and manage video inventory with the speed, control, and transparency.
Tremor Video will trade under ticker name Tremor Video Inc (NYSE:TRMR) until market close on September 25, 2017, after which the company is to trade under the name Telaria Inc. and ticker symbol TLRA.
Investors reacted positively to the proposed rebranding by sending the stock to an all-time high for the year. The stock is currently trading close to its 52-week high of $4.10 a share as it continues to trade in a strong uptrend that began last month. Tremor Video Inc (NYSE:TRMR) is up by more than 50% for the year after over performing the overall industry.
According to the chief marketing officer, Jennifer Catto, the rebranding push underscores Tremor Video dynamism and leadership role in the video industry. According to the executive, the name change supports a belief that advertising technology needs to be fast and frictionless to attract clients.
“With our platform’s unparalleled speed, diagnostic capabilities, and complete pricing transparency, our publisher clients have never been better positioned to unlock the full value of their video content,” said CEO, Mark Zagorski.
Trade Desk Rebranding
The rebranding push comes after Tremor Video Inc (NYSE:TRMR) announced deeper integration with Trade Desk Inc. The integration will result in the company offering curated access to premium programmatic Connected Television (CTV) and Over The Top (OTT) advertising inventory. Dish, Sling, and Bloomberg Media have already made some of their premium inventory available.
Changing consumer habits continue to drive rapid growth on CTV and OTT, presenting opportunities that Tremor Video plans to take advantage of. According to research firm eMarketer, CTV users increased 20.6% last year to account for 56% of U.S population. The finding is a testament that more people are watching digital video on connected TVs.
“We are excited to work with The Trade Desk to help advertisers understand the value of CTV, and how to reach the 18-34-year-old audience that is leading the shift from traditional TV to IP enabled programming,” said Katie Evans, COO of Tremor Video Inc (NYSE:TRMR).
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.