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The Rubicon Project Raises Another $18 Million, Completes Fox Audience Network Acquisition

November 1st, 2010 11:47 admin Leave a comment Go to comments

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The Rubicon Project, a Los Angeles based display ad optimization
platform, confirmed today that it has completed its acquisition of
parts of the Fox Audience Network from News Corp. I outlined the

main details
of the deal last week. Rubicon is purchasing
mostly the technology (ad server, MyAds self-service ad buying
platform, targeting technology, realtime bidding algorithms) and
taking on about 100 of FAN’s technology employees (after the
other half of FAN’s employees, the sales team, lost their
jobs last week). FAN’s third-party ad network is not part of
the deal.

News Corp now owns a minority stake in the Rubicon Project as a
result of this transfer of assets. At the same time, the Rubicon
project raised another $18 million from investors including News
Corporation, Clearstone Venture Partners, IDG Ventures Asia,
Mayfield Fund, and NBC Universal’s Peacock
Equity Fund.

The company expects revenues to hit $100 million in 2010, and
says it hit profitability for the first time in the month of
October. [Release]

Source: The Rubicon Project Raises Another $18 Million, Completes Fox Audience Network Acquisition

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