mdex

Rubicon Project Exploring Potential Sale?

David Murphy

Rubicon ProjectAd tech firm Rubicon Project is exploring a potential sale, according to a report in the Wall Street Journal citing “people familiar with the matter”.

Those people told the newspaper that the company is working with investment bank Morgan Stanley on the process.

In November 2016, Rubicon Project announced that it was cutting 125 jobs – 19 per cent of its workforce – after admitting three months earlier that it had been too slow to adopt header bidding, which enables publishers to boost their income by allowing multiple buyers to bid on ad inventory simultaneously.

Revenues for Q3 2016 were $65.8m (£52.7m), up two per cent year-on-year, while profits stood at $3.5m, up 217 per cent year-on-year.

The company has not commented on the rumours of a sale.