Dec 8, 2020 - Economy

PubMatic targets $115 million IPO amid ad tech boom

Illustration of advertisement on a telephone pole with ripped off tabs. The ad has “For Sale IPO"

Illustration: Eniola Odetunde/Axios

PubMatic, a programmatic advertising company, is looking to raise around $115 million when it files to go public this week, sources tell Axios.

Why it matters: Despite the ad market slump, the pandemic has been great for ad tech, because it's helped to accelerate the demand for new ad formats in mediums like streaming and gaming.

  • The ad tech sector has also been resilient during the pandemic, thanks in large part to the explosive growth of e-commerce and businesses moving online.

The big picture: Ad tech companies may see going public as a more viable way to raise money than pursuing venture capital deals, as many investors have cooled on the space, Abeed Janmohamed, director of M&A advisory joint venture Waypoint Partners and VOGL, told Business Insider's Lara O'Reilly.

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