Business

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.

Murawski: 919-829-8932

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