Advertising platform Rubicon Project has announced terms for an initial public offering today that will have the company seeking to raise $108 million.
Rubicon Project operates an automated digital ad exchange that allows you to both buy and sell ads. The company said its platform handles trillions of transactions in real-time from over 600 digital publishers — making it one of the largest ad exchanges in the world.
As for the IPO, Rubicon Project is offering 6.8 million shares at a $15 to $17 price range, which will give the company’s offering a market valuation of roughly $671 million. The company, which filed its IPO confidentially back in January, will be listed on the New York Stock Exchange (NYSE) under the ticker symbol RUBI.
Founded in 2007, Los Angeles, Calif.-based Rubicon Project said it generated $84 million in sales for 2013. The company previously raised a total of $51 million in funding from Mayfield Fund, Clearstone Venture Partners, Comcast Ventures, IDG Ventures, and News Corp.