Rubicon Files For $100 Million IPO

The great ad tech IPO boom of 2013 has continued into 2014.

The Rubicon Project has filed for an IPO with a proposed maximum aggregate offering price of $100 million, per the S-1 it filed to the SEC.

When reached for comment, a Rubicon representative told RTM Daily that the company is in a "quiet period" and is not commenting at this time.

Rubicon's revenue was $55.7 million for the first nine months of 2013, with a net loss of $9.2 million. By comparison, the company generated just over $57 million in revenue in all of 2012, with a net loss of about $2.4 million.

As of September 30, 2013, the company has $20.9 million in cash and cash equivalents.

Rubicon estimates that it managed an average of $1.2 million per buyer on its platform in 2013. This is compared to the $917,000 each buyer spent in 2012, $663,000 in 2011, and $491,000 in 2010 -- a compound annual growth rate of 35%, per the S-1.

According to the S-1, Rubicon had 315 employees as of September 30, 2013, with 270 in the U.S. The company claims to reach 96% of U.S. Internet users and 550 million Internet users around the globe.

“RUBI” is the proposed New York Stock Exchange symbol.

Recommend (9) Print RSS
All content published by MediaPost is determined by our editors 100% in the interest of our readers ... independent of advertising, sponsorships or other considerations.
1 comment about "Rubicon Files For $100 Million IPO".
  1. Andrew Reid from Victrix Media , February 5, 2014 at 4:19 p.m.
    The "risk factors" in the S-1 filing run for 35 pages. I know the company has an obligation to disclose all potential risk to an investor, but the risk chapter is sobering.