PubMatic, which provides a cloud infrastructure platform that enables advertising transactions, announced terms for its IPO on Monday.
The Redwood City, CA-based company plans to raise $100 million by offering 5.9 million shares (45% primary) at a price range of $16 to $18. At the midpoint of the proposed range, PubMatic would command a fully diluted market value of $953 million.
The company provides a specialized cloud infrastructure platform that enables real-time programmatic advertising transactions. In September 2020, the platform processed approximately 134 billion ad impressions daily. By harnessing data assets and leveraging machine learning algorithms, PubMatic believes that it increases publisher revenue, advertiser return on investment (ROI), and marketplace liquidity, while improving the cost efficiency of its proprietary technology platform and its publishers’ and buyers’ businesses.
PubMatic was founded in 2006 and booked $127 million in revenue for the 12 months ended September 30, 2020. It plans to list on the Nasdaq under the symbol PUBM. Jefferies and RBC Capital Markets are the joint bookrunners on the deal. It is expected to price during the week of December 7, 2020.
