Rubicon Project, part owned by News Corp, is set to be the next ad platform to go public. The firm is looking for $100m from an IPO led by Goldman Sachs and Morgan Stanley.
The float will follow those of Tremor and YuMe in recent months, both of which tracked below listing. In comparison, RocketFuel fared better. It is likely more ad tech firms will follow this year.
News Corp uses Rubicon to power its programmatic ad sales and it has been involved in facilitating premium private exchanges between publishers around the world.
News Corp flagged last year that it would stop using ad networks and focus on private exchanges.
“We are discontinuing remaining arrangements with third party ad networks. Any advertiser who wants to reach our great content and audiences must do so directly," said CEO Robert Thomson.
News Corp owns around a 20% share in Rubicon Project.
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