Eric Semler Labels Viant Technology as a “Zombie Company” That Should Adopt a Bitcoin Treasury

Viant Technology, a digital advertising firm, stands to enhance its shareholder value significantly through a Bitcoin (BTC) treasury strategy, as suggested by Eric Semler, the chairman of Semler Scientific, a company that has implemented a similar policy.

This move places Viant alongside Zoom Communications and Coursera on Semler’s list of companies within the “Zombie Zone” — entities that possess untapped financial resources and need to reassess their strategic approaches. Previously, both Zoom and Coursera did not follow Semler’s guidance.

In a recent update on social media, Semler pointed out Viant’s stock trajectory as a clear sign of investor doubt regarding the company’s future growth. The stock has plummeted by 44% since its initial public offering in 2021 and experienced a 50% drop just in February.

Despite these setbacks, Viant continues to showcase robust financial health, boasting $205 million in net cash, which accounts for roughly 25% of its market capitalization of $900 million, along with anticipated free cash flow of $34 million in 2024, reflecting expectations for steady growth up to 2028.

The competitive landscape is becoming increasingly challenging for Viant, as it contends with major players like Google and Amazon, and also faces the evolving nature of demand-side platforms. Chris Vanderhook, a co-founder of Viant, has voiced his support for decentralized technologies, viewing cryptocurrencies, blockchain, and NFTs as integral components of a new vision for an open web.