Advertising company PubMatic has reportedly hired a pair of banks for an initial public offering, according to a Wall Street Journal report that cites anonymous sources familiar with the company’s plans.
PubMatic produces a platform that makes it easy to automatically buy and sell advertising spots through real-time bidding (aka a programmatic ad platform). The platform places ads across websites, videos, and mobile apps to gain the biggest impact. Publishers can also connect with their most lucrative advertisers directly, too. PubMatic claims it’s revenue is up 118 percent in the last 12 months starting Sept. 2013, but has not disclosed exact amount of revenue.
According to WSJ’s sources, the startup brought on Credit Suisse Group AG and Citigroup recently for the public offering. The IPO, which could happen later this year, is also said to value the company at $1 billion.
PubMatic going public will add it to a slew ad tech firms that have made an exit in the last year. Some of those include IPOs from RocketFuel,Tremor Media, YuMe, Marin, and Millennial Media. Also worth noting is AOL’s purchase of Adap.tv for $405 million and Twitter’s acquisition of MoPub for $350 million.
Founded in 2006, the Redwood City, Calif.-based startup recently closed a $13 million funding round from Nokia Growth Partners, August Capital, DFJ, Helion Venture Partners, and Nexus Venture Partners. PubMatic has raised a total of $76 million in funding to date.
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