Veritone

VERI

Veritone Inc. is an artificial intelligence tech company based in Costa Mesa, California, founded in 2014. Veritone's aiWARE technology and solutions are licensed and utilized by a broad and diverse customer base including global media conglomerates, professional sports teams, federal government agencies, energy utilities, and state & local police departments. Veritone services over 1,500 customers around the world. It is traded on NASDAQ Global Market as VERI. In addition to the company's Costa Mesa office, they have offices in Newport Beach, California, San Diego, California, Denver, Colorado, Binghamton, New York, New York City, Seattle, Washington, and London, England.Chad Steelberg is Veritone’s Chairman of the Board and CEO. His brother, Ryan Steelberg, is the company's president. Peter F. Collins is EVP and CFO.The company was founded in 2014.In 2017 the company acquired Atigeo Corporation. The company IPOed on May 12, 2017. Their losses were $59.6 million this year.In 2018 the company acquired Machine Box (for $4.5 million), Wazee Digital (for $12.6 million), Performance Bridge (for $9.1 million), and S Media Limited. The company reported $27 million in revenue, with losses of $61.1 million.In 2019 the company placed over $200 million in ads for their clients, including 1-800-FLOWERS.com, Audible, DraftKings, HelloFresh, LinkedIn, SimpliSafe, and Uber. As of February 2020 the company had 277 employees.

Veritone has been a target of short sellers for a while. The current short interest of 11.95% is roughly at the average of the last 12 months (10.21%).