Feb. 8 (Bloomberg) -- PubMatic Inc., an advertising technology company, is planning an initial public offering this year led by Credit Suisse Group AG, according to two people with knowledge of the matter.
The New York-based provider of so-called programmatic advertising digital services has also hired Citigroup Inc. and Jefferies Group LLC, said the people, who asked not to be identified because the information isn’t public.
PubMatic, which earlier this week said it received $13 million in new funding led by Nokia Growth Partners, plans to raise about $100 million in an IPO in the second half of the year, one of the people said.
The Web-advertising network, which started in 2006, has so far raised $76 million and the last round included existing investors such as August Capital and Draper Fisher Jurvetson.
Paige MacGregor, a spokeswoman for PubMatic, didn't return a call for comment. Richard Khaleel, a spokesman for Jefferies; Jack Grone, a spokesman for Credit Suisse; and Danielle Romero-Apsilos, a spokeswoman for Citigroup, declined to comment.
Rubicon Project Inc., an online-advertising platform that reaches 96 percent of Internet users in the U.S., filed on Feb. 4 to raise $100 million in an IPO. The Los Angeles-based company hired Morgan Stanley, Goldman Sachs Group Inc. and Royal Bank of Canada to manage the offering.
Advertising-technology companies that went public over the last year have garnered mixed reactions from investors. Shares of Rocket Fuel Inc. almost doubled in their September debut and are up 76 percent since the IPO, while YuMe Inc. has slipped 26 percent since it went public in August. Still, the prospects for the industry prompted TubeMogul Inc., a maker of software for digital marketing, to plan for an IPO this year, people with knowledge of the matter have said.
They’re all vying for a bigger slice of the digital ad market, which EMarketer Inc. expects to increase 14 percent this year to $134.7 billion.
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