Rubicon Reports Record First Quarter

Los Angeles-based Rubicon Project said late Tuesday that it had record, first quarter results, with its first quarter revenues reaching $23M, up 39 percent year over year, and managed revenues of approximately $130M, up 34 percent year over year. The report is the very first report as a public company by Rubicon. The online advertising technology provider, headed by Frank Addante, went public in April. Rubicon Project helps publishers optimize their online advertising, via a real-time-bidding (RTB) marketplace. Rubicon said the increases came primarily due to increases in pricing due to increased bidding activity.