The Rubicon Project's (RUBI) price range spells a valuation range of $521M-$590M. The online ad network owner is selling 6.77M shares - 5.4M from the company itself, and the rest from existing holders.
Rubicon had 2013 revenue of $83.8M (+47% Y/Y), and a net loss of $9.2M. Sales/marketing spend grew a relatively moderate 26% to $25.8M. At the midpoint of its IPO range, Rubicon would trade at 6.7x trailing sales.
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