Semler Recommends Bitcoin Treasury for Viant Technology to Unlock Shareholder Value
Eric Semler, chairman of Semler Scientific (SMLR), believes Viant Technology (DSP) could significantly increase shareholder value by adopting a Bitcoin treasury strategy. This follows in the footsteps of Semler’s own company, which has successfully incorporated Bitcoin into its corporate strategy.
Viant joins Zoom Communications (ZOOM) and Coursera (COUR) on Semler’s list of “Zombie Zone” companies — businesses that possess capital but are in need of a strategic overhaul to drive future growth. Neither Zoom nor Coursera pursued Semler’s previous suggestions.
In a recent post on X, Semler pointed out the concerning stock performance of Viant, noting its 44% drop since its IPO in 2021, with a 50% decline in February alone. These struggles, he argues, reflect investor doubts about Viant’s ability to grow in the long term.
Despite this, Viant remains financially strong, with $205 million in net cash, or 25% of its $900 million market cap, and $34 million in free cash flow for 2024. The company expects steady growth through 2028, even as it faces intense competition from tech giants like Google and Amazon and the growing commoditization of demand-side platforms.
Viant’s co-founder, Chris Vanderhook, has shown strong support for decentralized technologies like cryptocurrency, blockchain, and NFTs, which he sees as part of his vision for a “New Open Web.” This interest in new technologies could help Viant pivot to a more future-forward strategy.
