Wednesday, April 2, 2014
Rubicon Project Up 33.60 Percent In IPO
Santa Monica-based The Rubicon Project, which develops ad optimization technology and operates a related online advertising exchange, closed up 33.60% at $20.04 in its first day on the markets, after its debut as RUBI on the New York Stock Exchange. Rubicon was venture backed by Clearstone Ventures, News Corp., and Mayfield. It's been a big few weeks for Southern California's technology startup world, with three, major exits in the last couple of weeks, including the up to $950M acquisition of Maker Studios last week, the two billion acquisition of Oculus VR exactly a week ago, on top of Rubicon's healthy IPO today. All three exits will help bolster Southern California's reputation as a technology startup hotbed.