YuMe Sets Terms For $70 Million IPO

Video advertising company YuMe has set terms of its planned initial public offering, expecting to raise up to $70 million.

The Redwood City, Calif. company, which delivers video ads to a range of Internet-connected devices, expects to price 5 million shares at $12 to $14 per share. Underwriters have the option to purchase an additional 750,000 shares.

The company posted a net loss of $3.3 million on revenue of $26.2 million in the first quarter of 2013.

Customers include  American Express , AT&T , GlaxoSmithKline , Home Depot and McDonald's. Competitors include Hulu and Google as well as numerous ad networks and ad exchanges.

Major shareholders include venture capital firm Khosla Ventures with 19.6% of the company prior to the IPO, Accel Partners with 18.7%, DAG Ventures with 12.0%, Menlo Ventures with 9.3% and BV Capital with 7.2%.

YuMe plans to trade on the New York Stock Exchange under the ticker "YUME."

Citigroup and Deutsche Bank are leading the deal.