Home Platforms Rubicon Project IPO Seeks Valuation Of $671M

Rubicon Project IPO Seeks Valuation Of $671M


ipo-rubiconIf all goes according to plan, Rubicon Project’s public offering will raise about $108 million ($77 million after expenses) in cash and give it a market cap of $671 million.

In an update to its January S-1 filing with the US Securities And Exchange Commission, the company said shareholders will offer 6.8 million shares of stock at a target price of $15-$17 per share.

The sell-side platform filed its long-anticipated IPO in January, signaling plans to raise about $100 million. But it didn’t name a strike price, so no valuation was available.

While its target price suggests a valuation of $671 million, that number could certainly go higher in the first day of trading – that is if the industry’s two other “programmatic IPOs” are any guidepost. Criteo, which began trading on Oct. 30 at $31 per share, jumped 33% in its first hours as a public company. Rocket Fuel meanwhile debuted at $29 on Sept. 20 and popped to more than double that by late morning on that day. As of Thursday afternoon Criteo was trading at about $44 per share and Rocket Fuel at about $47.

Rubicon, which will be traded under the ticker symbol “RUBI,” previously disclosed 2013 net revenue of $83.8 million, a 47% growth rate. Total revenue managed on the Rubicon platform in 2013 was $485.1 million, a 43% increase over 2012 ($338.9 million).

Must Read

It’s Open Season On SaaS As Brands Confront Their Own Subscription Fatigue

For CFOs and CEOs, we’ve entered a kind of open hunting season on martech SaaS.

Brian Lesser Is The New Global CEO Of GroupM

If you were wondering whether Brian Lesser was planning to take some time off after handing the CEO reins of InfoSum to Lauren Wetzel last week – here’s your answer.

Comic: S.P. O'Middleman's

TripleLift CEO Dave Clark Abruptly Exits After Setting The SSP On A New Trajectory

Dave Clark, who’s led TripleLift for the past two years, is stepping down, effective immediately, and is being replaced by a coterie of TripleLifters.

Privacy! Commerce! Connected TV! Read all about it. Subscribe to AdExchanger Newsletters
shopping cart

Moloco Invests In Its Competitor Topsort As The Retail Media Stakes Go Up

Topsort can lean into Moloco’s algorithmic personalization, while Moloco benefits from Topsort’s footprint with local retailers in the US and in Latin America.

CDP BlueConic Acquires First-Party Data Collection Startup Jebbit

On Wednesday, customer data platform BlueConic bought Jebbit, which creates quizzes, surveys and other interactive online plugs for collecting data from customers.

Comic: The Showdown (Google vs. DOJ)

The DOJ’s Witness List For The Google Antitrust Trial Is A Who’s Who Of Advertising

The DOJ published the witness list for its upcoming antitrust trial against Google, and it reads like the online advertising industry’s answer to the Social Register.