California-based programmatic ad platform PubMatic may soon file for an IPO according to a report. Credit Suisse Group AG and Citigroup are working on the details of the offering said the report by the Wall Street Journal.
The company is speculated to hold a value of $1 billion after the IPO. However, rumours of an impending IPO for PubMatic date back to 2011.
The news of the potential IPO later this year comes after an announcement that it had raised $13 million in investment led by Nokia Growth Partners in 2013.
Other prominent investors in the round include Helion Ventures, Nexus Venture Partners, August Capital and Draper Fisher Jurveston.
PubMatic will use the round of funding to aid in geographical market expansion, and mobile ad technology innovations, the company said. John Gardner, partner at Nokia Growth Partners is set to join the board of PubMatic as an observer.
California based PubMatic is a programmatic advertising platform that provides publishers customised advertising across display, mobile and video and is ranked as one of the fastest growing companies in the US in 2012 and 2013.
Nokia Growth Partners had previously invested in Bangalore based marketing solutions provider Vizury in October 2012. More recently, Bangalore based mobile publishing platform MobStac partnered with PubMatic to take their distribution to the US.
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