Digital advertising technology company PubMatic has announced 7% increase in revenue for the first half of 2020, despite the impact that COVID-19 has had on advertising.
The company’s Q2 revenue was down only 4% compared to the same three months last year during the height of the pandemic’s economic impact, while June revenue was up 9% for a strong finish to the quarter.
PubMatic CEO and co-founder Rajeev Goel says he is proud of the team for achieving revenue growth and profitability depsite the pandemic.
“This is a testament to our focus on delivering ROI for buyers and flexible omnichannel solutions for our publishers," Goel says.
"We will significantly expand our investment in our team, product innovation, and infrastructure in the second half of 2020.”
The company also added 67 new hires, bringing global headcount to 500 employees.
In the second half of the year the company plans to add an additional 80 team members, nearly a quarter of whom will be directly focused on mobile and video solutions.
As well, technology and infrastructure investment expanded the company’s global ad serving capacity by 25 billion impressions per day in the first half of 2020.
An additional increase of 50 billion impressions per day is planned in the second half of the year to meet the expanding needs of global customers.
“We are continuing to invest to capture the immense shift to online channels. While the overall advertising market is suppressed in the near term, millions more people are now online for banking, shopping, health, education, and entertainment," Goel says.
"This will ultimately drive significant increases in online advertising, and PubMatic’s investment will secure our ability to capture demand at scale, delivering value for advertisers and publishers alike."
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