Eric Semler Proposes Bitcoin Treasury Strategy for Viant Technology Amid Stock Struggles
Eric Semler, chairman of Semler Scientific, believes that Viant Technology (DSP), an ad tech firm facing stock struggles, could unlock substantial shareholder value by implementing a Bitcoin treasury strategy. Semler, whose own company adopted a similar approach to buying Bitcoin, sees this as a potential solution for Viant, which has accumulated a significant cash stockpile.
Viant now joins Zoom Communications (ZOOM) and Coursera (COUR) on Semler’s list of what he calls “Zombie Zone” companies — firms that have capital but are in desperate need of a strategic overhaul. Both Zoom and Coursera, however, did not take Semler’s advice in the past.
In a post on X, Semler pointed to Viant’s stock performance as a reflection of investor doubt regarding the company’s long-term growth. Since its IPO in 2021, Viant’s stock has dropped by 44%, with a sharp 50% decline in February alone.
However, Semler notes that Viant still maintains a solid financial position, with $205 million in net cash, representing around 25% of its $900 million market cap. Additionally, the company reported $34 million in free cash flow in 2024 and expects steady growth through 2028.
Despite its financial stability, Viant faces fierce competition from tech giants like Google and Amazon, and the increasing commoditization of demand-side platforms. Still, Viant’s leadership is showing interest in decentralized technologies, with Chris Vanderhook, one of the three co-founders, publicly embracing the potential of crypto, blockchain, and NFTs as part of a vision for a “New Open Web.”
