Rubicon Project Files for $100 Million Web-Advertising IPO
Posted in: UncategorizedRubicon Project, whose online-advertising platform reaches 96% of internet users in the U.S., filed to raise $100 million in an initial public offering.
The figure is a placeholder used to calculate fees and may change. The Los Angeles-based company intends to use the funds raised in the IPO for marketing and research and development, and may seek acquisitions, according to the filing today.
Advertising-technology companies that went public over the last year have garnered mixed reactions from investors. Shares of Rocket Fuel almost doubled in their September debut and are up 82% since the IPO, while YuMe has slipped 23% since it went public in August. Still, the prospects for the industry prompted TubeMogul, a maker of software for digital marketing, to plan for an IPO this year, people with knowledge of the matter said.
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