OpenX Hits Profitability, Nears $100M In Annual Revenues

Los Angeles-based OpenX, the developer of online advertising serving software, reported today that it has achieved its first full quarter of profitability, and is has exceeded an annual run rate of $100M. OpenX develops online ad serving software, which is used by web publishers to display web advertising. OpenX, which is headed by Tim Cadogan, said it served more than one trillion ad impressions during 2011. The company said the fastest are of growth for the company was in its online ad exchange, OpenX Market, which it says grew by nearly 700%.