Dec 8, 2020 - Economy

PubMatic targets $115 million IPO amid ad tech boom

Sara Fischer

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.

Last year's collapse of ad tech firm Sizmek, one of the biggest demand-side ad platforms, served as a warning to investors.

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PubMatic targets $115 million IPO amid ad tech boom

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