MaxPoint sinks in market debut

Digital marketing company MaxPoint priced its shares at $11.50 each Friday in the Triangle’s latest public stock offering.

The 8-year-old Morrisville company sold 6.5 million shares and is offering nearly a million more at a discount to its underwriters.

The shares began trading Friday morning on the New York Stock Exchange under the ticker MXPT.

The company previously reported 2014 revenue of $106.5 million with a $13 million loss.

MaxPoint has 340 employees, about 200 of them in Morrisville.

MaxPoint’s software helps advertisers pinpoint potential demographics through 44,000 micro-zones, which the company calls Digital Zips. The technology helps businesses target specific audiences instead of paying to flood a larger market with advertising and is part of a trend to match ads to precise target audiences.

Its customers include coffee chain Starbucks, appliance maker Electrolux and pasta company Barilla.

This story was originally published March 6, 2015 at 10:34 AM with the headline "MaxPoint sinks in market debut."