Ad tech startup PubMatic reportedly preparing for a $1 billion IPO

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. The platform places ads across websites, videos, and mobile apps to gain the biggest impact. 

PubMatic Inc., which automates the buying and selling of digital advertising space, has tapped bankers for a potential initial public offering, people familiar with the matter said. The company is working with Credit Suisse Group AG and Citigroup Inc. C +2.26% on the offering, which could come later this year, the people said. It will aim for a price that values the company at more than $1 billion, they added. PubMatic helps publishers of websites, and more-recently videos and mobile apps, connect with ad buyers using automated systems. It recently began enabling publishers to connect to their biggest advertisers, which typically buy directly from the publishers, using the automated platforms.

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