Impact Tech Plans for IPO After Valuation Hits $1.5 Billion

Impact Tech Inc. is planning an initial public offering next year after raising funds at a $1.5 billion valuation, underscoring a shift in the advertising industry as brands rely more on influencer endorsements and reviews to win customers.

The company will file to sell its shares in the first half of 2022, Chief Executive Officer David Yovanno said in an interview. Santa Barbara, California-based Impact has just raised $150 million to expand its platform, he said.

Impact works with about 2,000 brands including Walmart Inc. and Uber Technologies Inc., connecting companies with publishers such as the New York Times ...