Magnite Inc
 | |
| Formerly | Rubicon Project |
|---|---|
| Type | Public |
| Nasdaq: MGNI | |
| Industry | Internet Computer software Advertising |
| Founded | Los Angeles, California (May 1, 2007) |
| Headquarters | United States  |
Area served | Worldwide |
Key people | Michael Barrett, President & CEO |
| Revenue |  $668.2 Million (2024)[1] |
| Website | www |
Magnite Inc. (formerly Rubicon Project) is an American online advertising technology firm based in Los Angeles, California. The company was formed following a merger between Rubicon Project and Telaria in 2020.
History
[edit]Rubicon Project was founded in 2007 by Frank Addante, Craig Roah, Duc Chau and Julie Mattern, who had previously worked together at L90/adMonitor, an online advertising network.[2]
By April 2009, the company had raised $33 million in venture funding led by Clearstone Venture Partners, IDG Ventures Asia and Mayfield Fund. The company also secured $8 million in venture debt from Silicon Valley Bank.[3]
In February 2014, Rubicon Project filed for an IPO[4] and went public in April 2014 opening at over $20 per share. The stock fell back to about $16 per share later in the month.[5]
In March 2014, the company was named number two on the top Ad Exchange Entities by comScore.[6]
In February 2017, the company released its president and several other top executives.[7] On March 14, 2017, CEO and founder Frank Addante stepped down from his position to take the role of chairman.[8][9] The company announced Michael Barrett, previously the chief executive of mobile advertising marketplace Millennial Media and chief revenue officer at Yahoo!, would be the new chief executive.[10]
In May 2024, Netflix announced its first expansion of its advertising partnerships to include Magnite, The Trade Desk and Google DV360.[11]
On May 19, 2025, OSN has chosen Magnite, the independent sell-side advertising company, to power its new “Advanced TV” advertising solution. This marks the first time OSN will offer addressable advertising across its set-top box (STB) linear broadcast and video-on-demand (VOD) inventory. Using Magnite’s SpringServe video platform, targeted ads will now be delivered to OSN set-top boxes across the MENA region.[12]
In September 2025, Magnite filed a lawsuit against Google over alleged monopolistic and anticompetitive behavior.[13]
Mergers and acquisitions
[edit]Rubicon Project acquisitions
[edit]In September 2009, the Rubicon Project acquired OthersOnline, an audience profiling technology company based in Seattle.[14]
In May 2010, the company bought Site Scout, a malware detection company also based in Seattle.[15]
In October 2010, the company acquired Fox Audience Network from News Corp in return for a minority stake in the company.[16] It also received $18 million in additional funding led by Peacock Equity, the venture division of NBC Universal.[16][17]
In May 2012, Rubicon Project acquired Mobsmith, a mobile technology company.[18]
In August 2012, the company became the top-ranked online advertising company in terms of reach, with a 96.2% audience share, according to rankings provided by ComScore. This placed Rubicon ahead of Google for the first time, and also ahead of other competitors such as AOL and AT&T.[19]
In October 2019, Rubicon Project acquired RTK.io, a header bidding startup for $11 million.[20][21]
Merger with Telaria
[edit]In December 2019, Rubicon Project and Telaria announced a merger.[22] Shareholders of Telaria and Rubicon project approved the merger on March 30, 2020, and the merger was completed on April 1.[23]
While the two businesses initially fell under Rubicon Project and operated as two separate brands,[23] the company rebranded under the name Magnite in June 2020.[24][25] The merger made Magnite the world's largest independent omnichannel sell-side platform.[23]
Recent acquisitions
[edit]In February 2021, Magnite acquired SpotX from European entertainment network RTL Group for $1.17 billion in cash and stock.[26]
In September 2025, Magnite acquired Streamr.ai, a company that specializes in the development of AI-generated assets for small businesses' CTV campaigns.[27][28]
See also
[edit]References
[edit]- ↑ "Magnite Reports Fourth Quarter and Full-Year 2024 Results".
- ↑ "Internet Pioneers Went Their Own Way, Then Reunited" Los Angeles Business Journal. November 18, 2007.
- ↑ McMahan, Ty (April 13, 2009). "Rubicon Project To Go Shopping With $13M". Dow Jones VentureWire. Retrieved November 29, 2010.
{{cite web}}: CS1 maint: deprecated archival service (link) - ↑ "Rubicon Project Files For $100 Million IPO — Here's A Basic Guide To Its Finances". Business Insider.
- ↑ Schiavo, Amanda (April 28, 2014). "Why The Rubicon Project (RUBI) Stock Is Plummeting Today".
- ↑ "comScore Media Metrix Ranks Top 50 U.S. Desktop Web Properties". April 2014.
- ↑ "Rubicon Project's President Is Among Several Executives Leaving the Company". AdWeek.com. Retrieved April 30, 2017.
- ↑ Reim, Garrett (2017-03-14). "Rubicon Project CEO Steps Down Following Rough Year". Los Angeles Business Journal. Retrieved 2026-03-04.
- ↑ "Rubicon Project announces CEO Frank Addante to step down with ex-Millennial Media chief Michael Barrett to take over". The Drum. Retrieved 2026-03-04.
- ↑ "Rubicon Project CEO Steps Down Following Rough Year". labusinessjournal.com. March 14, 2017. Retrieved March 14, 2017.
- ↑ "Netflix Says Ad Tier Has 40M Users, Plans to Bring Ad Tech In-House in Shift From Microsoft" Hollywood Reporter. May 15, 2024
- ↑ "OSN partners with Magnite to launch addressable TV advertising". Broadcast Pro ME. 2025-05-19. Retrieved 2025-06-03.
- ↑ "Magnite Becomes Third SSP in Two Months to Sue Google Over Antitrust Allegations". 2025-09-16. Retrieved 2025-10-06.
- ↑ "Others Online to make ads more relevant with the Rubicon Project" Puget Sound Business Journal. September 15, 2009
- ↑ "The Rubicon Project Buys Malware Security Company SiteScout". TechCrunch. May 25, 2010.
- 1 2 Schonfeld, Erick (2010-11-01). "The Rubicon Project Raises Another $18 Million, Completes Fox Audience Network Acquisition". TechCrunch. Retrieved 2026-01-08.
- ↑ Daily, Ad Tech (2010-11-01). "the Rubicon Project Acquires Fox Audience Network (FAN) for Technology Assets and Team". Ad Tech Daily. Retrieved 2026-01-08.
- ↑ "Rubicon Project Acquires Mobsmith To Expand Into Mobile Ads" Techcrunch. May 23, 2012.
- ↑ Thomas, Owen (August 9, 2012). "Rubicon Project Crushes Google On A Key Ad Metric". Business Insider. Retrieved September 29, 2012.
- ↑ Only, Subscription (2019-10-21). "Rubicon Project Adds Header Bidding Tools With RTK.io Acquisition". Retrieved 2026-02-10.
- ↑ Sluis, Sarah (2019-10-21). "Rubicon Project Buys Header Bidding Tech Startup RTK.io For $11 Million". AdExchanger. Retrieved 2026-02-10.
- ↑ Swant, Marty. "Rubicon Project And Telaria Are Merging To Scale Connected TV Advertising". Forbes. Retrieved 2021-01-30.
- 1 2 3 Sparks, Daniel (2020-04-01). "Rubicon Project and Telaria Combine, Forming the Largest Independent Sell-Side Ad Tech Company". The Motley Fool. Retrieved 2020-05-13.
- ↑ Chen, I-Chun (2020-06-30). "Rubicon Project rebrands as Magnite after Telaria merger". Los Angeles Business Journal. Retrieved 2020-10-14.
- ↑ "Rubicon Project and Telaria rebrand as Magnite following merger - AdNews". www.adnews.com.au. Retrieved 2026-01-08.
- ↑ "Magnite Acquires SpotX For An Eye-Watering $1.17 Billion". AdExchanger. 2021-02-05. Retrieved 2023-02-02.
- ↑ McNally, Victoria (2025-09-12). "What's Next for Streamr.ai Now That It's Been Acquired By Magnite?". AdExchanger. Retrieved 2025-11-11.
- ↑ "Magnite acquires streamr.ai". 2025-09-09. Retrieved 2026-02-10.