Friday, February 19, 2010

Rubicon Projects Hires Investment Banker

Los Angeles-based Rubicon Project, the online ad optimization firm headed by Frank Addante, announced this morning that it has hired investment banker Allen & Company. According to Rubicon, Allen & Company will work with the company to "exploring options for ongoing business growth initiatives" including strategic acquisitions, platform expanson, and continued international growth. The firm said along with the announcement that it will be adding ad serving, forecasting, and other functionality to its system in 2010, and that it is taking an aim at current provider of ad server technology. Rubicon also said in its announcement that it had year-over-year growth of 270%, and that during 2009 it made its first acquisition, of technology firm Others Online. Rubicon has raised over $42M in funding from Clearstone Venture Partners, Mayfield Fund, IDG Ventures and GE/NBC Universal's Peacock Equity Fund.

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