AdRoll Hits $100M Run Rate, Doubles Customer Base
Ad retargeting platform AdRoll on Thursday announced that it reached a $100 million run rate in September. That's double the $50 million run rate the company announced in January. A "run rate" is a 12-month projection of revenue.
Aaron Bell, CEO and founder of AdRoll, told RTM Daily that the company has maintained profitability in the past year. He said there are peaks and valleys on a month-to-month basis -- which suggests it isn't as stable as Bell would like -- but said "generally speaking, we are profitable."
Bell cited increased interest in advertising on the Facebook Exchange (FBX) and new clients -- including "larger advertisers and agencies" -- as reasons for growth. The company now has 10,000 customers, a number that has also doubled since January.
Although AdRoll's customer base and projected revenue have doubled together, Bell believes there's more to the revenue growth than the simple addition of customers.
"We've seen budgets go up [from existing clients]," he claimed. "In 2012 we were doing primarily Web retargeting. We've been adding on more product lines, particularly Facebook [and the FBX]."
The company has also invested more in "bidding intelligence and data science" to do a better job bidding on behalf of their customers, a company representative said.
Another reason for the company's progress has been the growing interest in retargeting from overseas. AdRoll's clients now span 100 countries, and the company has revealed plans to open new offices in international markets in the coming months. Bell had no additional information to share about planned overseas offices.
While the company appears to be riding a wave of unsustainable growth, Bell remains optimistic. "I know I'm biased, but I feel like Web display advertising was just the first playground in programmatic," he said. "Mobile, video, social, TV, radio [are now using programmatic]; I feel like we're in a really great spot."
AdRoll plans to reach 300 global employees by the end of 2013. The company had about 100 employees at the end of summer 2012 and currently has 250.