The Rubicon Project Acquires Fox Audience Network
The Rubicon Project is an ad optimization company based in Los Angeles, California. The company has raised $18 million in funding and they acquired the Fox Audience Network (FAN). After this round of funding, it brings The Rubicon Project’s total funding to $60 million.
News Corporation will get a small stake in Rubicon as part of the deal too. A source with paidContent said that News Corp’s ownership is about 19.9%.
FAN was created by News Corporation to sell ads for MySpace and other third-party sites. Before selling FAN to The Rubicon Project, News Corp considered folding it to MySpace. Adam Bain, the guy who “founded” FAN is joining Twitter as the president of global revenues this past August.
About 100 FAN employees will be joining staff at The Rubicon Project in the areas of engineering and product. News Corp. participated in the $18 million round of funding in Rubicon. Clearstone Venture Partners, IDG Ventures Asia, Mayfield Fund, Peacock Equity, and Jarl Mohn also participated.@amitchowdhry or on Google+ at +AmitChowdhry