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.