Rubicon Project prepares for $108 million IPO
Rubicon Project is an advertising platform that is preparing for an initial public offering (IPO). Rubicon Project is seeking to raise $108 million as part of the IPO. Rubicon Project works as an automated digital ad exchange that lets you buy and sell ads.
Rubicon Project handles trillions of transactions in real-time from over 600 digital publishers. This makes Rubicon one of the largest ad exchanges in the world. Rubicon Project is offering 6.8 million shares at a $15 to $17 price range, which would give the company a market valuation of around $671 million.
Rubicon Project filed its IPO confidentially in January, which will be listed on New York Stock Exchange (NYSE) with the ticker symbol RUBI. Rubicon Project hit around $84 million in 2013 revenues.
The company raised $51 million in funding from companies like Mayfield Fund, IDG Ventures, News Corporation, Clearstone Venture Partners and Comcast Ventures.