Magnite Inc

Last updated
Magnite Inc.
FormerlyRubicon Project
Company type Public
Nasdaq:  MGNI
IndustryInternet
Computer software
Advertising
Founded Los Angeles, California
(May 1, 2007 (2007-05-01))
Headquarters
United States  OOjs UI icon edit-ltr-progressive.svg
Area served
Worldwide
Key people
Michael Barrett, President & CEO
RevenueIncrease2.svg $468.4 Million (2021) [1]
Website www.magnite.com

Magnite Inc. (formerly Rubicon Project) is an American online advertising technology firm based in Los Angeles, California. The company was formed following a merger between Rubicon Project and Telaria in 2020.

Contents

History

Rubicon Project was founded in 2007 by Frank Addante, Craig Roah, Duc Chau and Julie Mattern, who had previously worked together at L90/adMonitor, an online advertising network. [2]

By April 2009, the company had raised $33 million in venture funding led by Clearstone Venture Partners, IDG Ventures Asia and Mayfield Fund. The company also secured $8 million in venture debt from Silicon Valley Bank. [3]

In February 2014, Rubicon Project filed for an IPO [4] and went public in April 2014 opening at over $20 per share. The stock fell back to about $16 per share later in the month. [5]

In March 2014, the company was named number two on the top Ad Exchange Entities by comScore. [6]

In February 2017, the company released its president and several other top executives. [7] On March 14, 2017, CEO and founder Frank Addante stepped down from his position to take the role of chairman. The company announced Michael Barrett, previously the chief executive of mobile advertising marketplace Millennial Media and chief revenue officer at Yahoo!, would be the new chief executive. [8]

In May 2024, Netflix announced its first expansion of its advertising partnerships to include Magnite, The Trade Desk and Google DV360. [9]

Merger with Telaria

In December 2019, Rubicon Project and Telaria announced a merger. [10] Shareholders of Telaria and Rubicon project approved the merger on March 30, 2020, and the merger was completed on April 1. [11]

While the two businesses initially fell under Rubicon Project and operated as two separate brands, [11] the company rebranded under the name Magnite in June 2020. [12] The merger made Magnite the world's largest independent omnichannel sell-side platform. [11]

Acquisition of SpotX

In February 2021, Magnite acquired SpotX from European entertainment network RTL Group for $1.17 billion in cash and stock. [13]

Previous Rubicon Project Acquisitions

In September 2009, the Rubicon Project acquired OthersOnline, an audience profiling technology company based in Seattle. [14]

In May 2010, the company bought Site Scout, a malware detection company also based in Seattle. [15]

In October 2010, the company acquired Fox Audience Network from News Corp in return for a minority stake in the company. It also received $18 million in additional funding led by Peacock Equity, the venture division of NBC Universal.

In May 2012, Rubicon Project acquired Mobsmith, a mobile technology company. [16]

In August 2012, the company became the top-ranked online advertising company in terms of reach, with a 96.2% audience share, according to rankings provided by ComScore. This placed Rubicon ahead of Google for the first time, and also ahead of other competitors such as AOL and AT&T. [17]

In July 2013, the company expanded its executive ranks with the addition of 10 senior people. [18]

See also

Related Research Articles

DoubleClick Inc. was an American advertisement company that developed and provided Internet ad serving services from 1995 until its acquisition by Google in March 2008. DoubleClick offered technology products and services that were sold primarily to advertising agencies and mass media, serving businesses like Microsoft, General Motors, Coca-Cola, Motorola, L'Oréal, Palm, Inc., Apple Inc., Visa Inc., Nike, Inc., and Carlsberg Group. The company's main product line was known as DART, which was intended to increase the purchasing efficiency of advertisers and minimize unsold inventory for publishers.

<span class="mw-page-title-main">Avast</span> Czech security software company

Avast Software s.r.o. is a Czech multinational cybersecurity software company headquartered in Prague, Czech Republic, that researches and develops computer security software, machine learning, and artificial intelligence. Avast has more than 435 million monthly active users and the second largest market share among anti-malware application vendors worldwide as of April 2020. The company has approximately 1,700 employees across its 25 offices worldwide. In July 2021, NortonLifeLock, an American cybersecurity company, announced that it was in talks to merge with Avast Software. In August 2021, Avast's board of directors agreed to an offer of US$8 billion.

Online advertising, also known as online marketing, Internet advertising, digital advertising or web advertising, is a form of marketing and advertising that uses the Internet to promote products and services to audiences and platform users. Online advertising includes email marketing, search engine marketing (SEM), social media marketing, many types of display advertising, and mobile advertising. Advertisements are increasingly being delivered via automated software systems operating across multiple websites, media services and platforms, known as programmatic advertising.

Pandora is a subscription-based music streaming service owned by the broadcasting corporation Sirius XM that is presently based in Oakland, California inside of the United States. The service carries a focus on recommendations based on the "Music Genome Project", which is a means of classifying individual songs by musical traits such as genres and shared instrumentation. The service originally launched in the consumer market as an internet radio service that would generate personalized channels based on these traits as well as specific tracks liked by the user; this service is available in an advertising-supported tier and additionally a subscription-based version. In 2017, the service launched Pandora Premium, which is an on-demand version of the service more in line with contemporary competitors.

<span class="mw-page-title-main">Microsoft Advertising</span> Online advertising service

Microsoft Advertising is an online advertising platform developed by Microsoft, where advertisers bid to display brief ads, service offers, product listings and videos to web users. Provides pay per click advertising on search engines Bing, Yahoo! and DuckDuckGo, as well as on other websites, mobile apps, and videos.

Velti is a mobile marketing company offering its services to mobile operators and brands. The company was founded in 2001, went public in London in 2006 and on NASDAQ in 2011. In 2013 Blackstone, acquired the assets of Velti and the company was taken private.

An ad exchange is a technology platform that facilitates the buying and selling of media advertising inventory from multiple ad networks. Prices for the inventory are determined through real-time bidding (RTB). The approach is technology-driven as opposed to the historical approach of negotiating price on media inventory. This represents a field beyond ad networks as defined by the Interactive Advertising Bureau (IAB), and by advertising trade publications.

Perion Network Ltd. is a global technology company that provides digital advertising products and services. It is headquartered in Holon, Israel, with offices in Tel Aviv, New York, Los Angeles, London, Chicago, Boston, Atlanta, Toronto, and Kiev.

InMobi is an Indian multinational technology company, based in Bangalore. Its mobile-first platform allows brands, developers and publishers to engage consumers through contextual mobile advertising. The company was founded in 2007 under the name mKhoj by Naveen Tewari, Mohit Saxena, Amit Gupta and Abhay Singhal.

<span class="mw-page-title-main">One by AOL</span> Advertising company

One by AOL, formerly known as Millennial Media, was an advertising company that places display ads on mobile devices.

ironSource Ltd. is an Israeli software company that focuses on developing technologies for app monetization and distribution, with its core products focused on the app economy.

ReachLocal, Inc. (ReachLocal), a divisions of Gannett, was a provider of digital marketing solutions to businesses in the United States, Canada, Australia, and New Zealand. ReachLocal now operates as LocaliQ in the United States, Canada and the United Kingdom.

<span class="mw-page-title-main">4INFO</span>

4INFO Inc. is an American targeted advertising corporation. The company was owned by Nielsen Holdings. It was acquired by Cadent in 2020.

Chartboost is a San Francisco-based mobile game in-app programmatic advertising and monetization platform. Chartboost SDK enables developers to monetize on their mobile apps and connect advertisers to global in-app inventory. Chartboost's platform allows video game developers to create customized interstitial and video ads to promote new games. Developers have direct access to game data derived from Chartboost-enabled games. As of 2016, Chartboost had been integrated into more than 300,000 games with 40 billion game sessions per month.

<span class="mw-page-title-main">Cheetah Mobile</span> Chinese mobile internet company

Cheetah Mobile Inc (猎豹移动公司) is a Chinese mobile internet company incorporated in the Cayman Islands and headquartered in Beijing.

TubeMogul is an enterprise software company for brand advertising.

PubMatic, Inc. develops and implements online advertising software and strategies for the digital publishing and advertising industry. PubMatic's sell-side, real-time programmatic ad transaction advertising software puts publishers of websites, videos, and mobile apps into contact with ad buyers by using automated systems, while allowing users to opt-out of having their personal information collected on internet searches. PubMatic has a number of offices in countries around the world.

Snowflake Inc. is an American cloud computing–based data cloud company based in Bozeman, Montana. It was founded in July 2012 and was publicly launched in October 2014 after two years in stealth mode.

Tremor International Ltd., comprising Tremor Video and Unruly, is a publicly traded advertising-technology company. Founded in 2007, it focuses on digital advertising including video, mobile, native, display technology, and connected TV. Its stock trades on both the Nasdaq and London Stock Exchange under the ticker symbol TRMR.

The Trade Desk, Inc. is an American multinational technology company that specializes in real-time programmatic marketing automation technologies, products, and services, designed to personalize digital content delivery to users.

References

  1. ↑ "Magnite Reports Record Fourth Quarter 2021 Results".
  2. ↑ "Internet Pioneers Went Their Own Way, Then Reunited" Los Angeles Business Journal. November 18, 2007.
  3. ↑ McMahan, Ty (April 13, 2009). "Rubicon Project To Go Shopping With $13M". Dow Jones VentureWire. Retrieved November 29, 2010.
  4. ↑ "Rubicon Project Files For $100 Million IPO — Here's A Basic Guide To Its Finances". Business Insider .
  5. ↑ Schiavo, Amanda (April 28, 2014). "Why The Rubicon Project (RUBI) Stock Is Plummeting Today".
  6. ↑ "comScore Media Metrix Ranks Top 50 U.S. Desktop Web Properties". April 2014.
  7. ↑ "Rubicon Project's President Is Among Several Executives Leaving the Company". AdWeek.com. Retrieved April 30, 2017.
  8. ↑ "Rubicon Project CEO Steps Down Following Rough Year". labusinessjournal.com. March 14, 2017. Retrieved March 14, 2017.
  9. ↑ "Netflix Says Ad Tier Has 40M Users, Plans to Bring Ad Tech In-House in Shift From Microsoft" Hollywood Reporter. May 15, 2024
  10. ↑ Swant, Marty. "Rubicon Project And Telaria Are Merging To Scale Connected TV Advertising". Forbes. Retrieved 2021-01-30.
  11. 1 2 3 Sparks, Daniel (2020-04-01). "Rubicon Project and Telaria Combine, Forming the Largest Independent Sell-Side Ad Tech Company". The Motley Fool. Retrieved 2020-05-13.
  12. ↑ Chen, I-Chun (2020-06-30). "Rubicon Project rebrands as Magnite after Telaria merger". Los Angeles Business Journal. Retrieved 2020-10-14.
  13. ↑ "Magnite Acquires SpotX For An Eye-Watering $1.17 Billion". AdExchanger. 2021-02-05. Retrieved 2023-02-02.
  14. ↑ "Others Online to make ads more relevant with the Rubicon Project" Puget Sound Business Journal. September 15, 2009
  15. ↑ Kaplan, David (May 25, 2010). "Rubicon Project Buys Malware Monitor SiteScout". paidContent.org. Retrieved November 29, 2010.
  16. ↑ "Rubicon Project Acquires Mobsmith To Expand Into Mobile Ads" Techcrunch. May 23, 2012.
  17. ↑ Thomas, Owen (August 9, 2012). "Rubicon Project Crushes Google On A Key Ad Metric". Business Insider. Retrieved September 29, 2012.
  18. ↑ "The Rubicon Project Expands and Deepens Its Senior Management Team". July 31, 2013.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.