- The Rubicon Project, owner of an online ad network that automates buying/selling decisions, has filed for a $100M IPO under the symbol RUBI. Morgan Stanley, Goldman, RBC, Needham, Oppenheimer, and Luma Securities are underwriting. (S-1)
- Rubicon differentiates itself through a technology platform that features 25K+ CPUs and relies on algorithms to (per the company) make ~300 data-driven decisions per ad transaction. The company claims "technical integrations" with 500+ ad sellers, and says buyers (ad networks/platforms and trading desks) collectively use Rubicon to reach 550M Web users.
- Ad retargeting platform Rocket Fuel (FUEL -6.9%), which delivered a very successful IPO last year, is one of Rubicon's clients. As with many other online ad names, Google looms large as a competitor.
- Over the first nine months of 2013, Rubicon had revenue of $55.7M (+48% Y/Y), and a net loss of $9.2M. Gross margin was 79.9%.
- 2013 was a mixed year for online ad IPOs. While Rocket Fuel and fellow retargeting platform Criteo performed very well, online video ad plays YuMe and Tremor Media fell flat.
Online ad network Rubicon Project files for $100M IPO
Feb 4 2014, 14:33 ET