{{short description|American advertising technology firm}} {{Infobox company | name = Magnite Inc. | logo = File:Magnite-logo-black.svg | image = | image_caption = | former_name = Rubicon Project | key_people = Michael Barrett, President & CEO | type = Public | traded_as = {{NASDAQ|MGNI}} | industry = Internet<br>Computer software<br>Advertising | founded = Los Angeles, California<br>({{Start date|2007|05|1}}) | hq_location_city = | num_employees = | revenue = {{Increase}} $668.2 Million (2024)<ref>{{Cite web|url=https://investor.magnite.com/news-releases/news-release-details/magnite-reports-fourth-quarter-and-full-year-2024-results|title = Magnite Reports Fourth Quarter and Full-Year 2024 Results}}</ref> | area_served = Worldwide | website = {{URL|https://www.magnite.com}} }}
'''Magnite Inc.''' (formerly '''Rubicon Project''') is an American online advertising technology firm based in Los Angeles, California. The company was formed following a merger between Rubicon Project and Telaria in 2020.
==History== Rubicon Project was founded in 2007 by Frank Addante, Craig Roah, Duc Chau and Julie Mattern, who had previously worked together at L90/adMonitor, an online advertising network.<ref>[https://labusinessjournal.com/news/internet-pioneers-went-their-own-way-then-reunited/ "Internet Pioneers Went Their Own Way, Then Reunited"] Los Angeles Business Journal. November 18, 2007.</ref>
By April 2009, the company had raised $33 million in venture funding led by Clearstone Venture Partners, IDG Ventures Asia and Mayfield Fund. The company also secured $8 million in venture debt from Silicon Valley Bank.<ref>{{cite web |url=https://www.fis.dowjones.com/WebBlogs.aspx?aid=DJFVW00020090413e54d00003&ProductIDFromApplication=&r=wsjblog&s=djfvw |title=Rubicon Project To Go Shopping With $13M |first=Ty |last=McMahan |date=April 13, 2009 |publisher=Dow Jones VentureWire |access-date=November 29, 2010 |archive-date=December 17, 2012 |archive-url=https://archive.today/20121217132859/https://www.fis.dowjones.com/WebBlogs.aspx?aid=DJFVW00020090413e54d00003&ProductIDFromApplication=&r=wsjblog&s=djfvw |url-status=dead }}</ref>
In February 2014, Rubicon Project filed for an IPO<ref>{{cite web|url=http://www.businessinsider.com/rubicon-project-ipo-2014-2|title=Rubicon Project Files For $100 Million IPO — Here's A Basic Guide To Its Finances|website=Business Insider|publisher=}}</ref> and went public in April 2014 opening at over $20 per share. The stock fell back to about $16 per share later in the month.<ref>{{cite web|url=http://www.thestreet.com/story/12685682/1/why-the-rubicon-project-rubi-stock-is-plummeting-today.html|title=Why The Rubicon Project (RUBI) Stock Is Plummeting Today|first=Amanda|last=Schiavo|date=April 28, 2014|publisher=|access-date=}}</ref>
In March 2014, the company was named number two on the top Ad Exchange Entities by comScore.<ref>{{cite web | date=April 2014 | title= comScore Media Metrix Ranks Top 50 U.S. Desktop Web Properties| url=http://www.comscore.com/Insights/Press-Releases/2014/4/comScore-Media-Metrix-R-Ranks-Top-50-US-Desktop-Web-Properties-for-March-2014}}</ref>
In February 2017, the company released its president and several other top executives.<ref>{{cite web|url=http://www.adweek.com/digital/rubicon-projects-president-is-among-several-executives-leaving-the-company/|title=Rubicon Project's President Is Among Several Executives Leaving the Company|author=|date=|work=AdWeek.com|access-date=April 30, 2017}}</ref> On March 14, 2017, CEO and founder Frank Addante stepped down from his position to take the role of chairman.<ref>{{Cite web |last=Reim |first=Garrett |date=2017-03-14 |title=Rubicon Project CEO Steps Down Following Rough Year |url=https://labusinessjournal.com/technology/rubicon-project-ceo-steps-down-following-rough-yea/ |access-date=2026-03-04 |website=Los Angeles Business Journal |language=en-US}}</ref><ref>{{Cite web |title=Rubicon Project announces CEO Frank Addante to step down with ex-Millennial Media chief Michael Barrett to take over |url=http://www.thedrum.com/news/rubicon-project-announces-ceo-frank-addante-step-down-with-ex-millennial-media-chief |access-date=2026-03-04 |website=The Drum |language=en-US}}</ref> The company announced Michael Barrett, previously the chief executive of mobile advertising marketplace Millennial Media and chief revenue officer at Yahoo!, would be the new chief executive.<ref>{{cite web|url=http://labusinessjournal.com/news/2017/mar/14/rubicon-project-ceo-steps-down-following-rough-yea/|title=Rubicon Project CEO Steps Down Following Rough Year |website=labusinessjournal.com |date=March 14, 2017 |access-date=March 14, 2017}}</ref>
In May 2024, Netflix announced its first expansion of its advertising partnerships to include Magnite, The Trade Desk and Google DV360.<ref>[https://www.hollywoodreporter.com/business/business-news/netflix-ad-tier-update-40m-users-shift-from-microsoft-1235900301/ "Netflix Says Ad Tier Has 40M Users, Plans to Bring Ad Tech In-House in Shift From Microsoft"] Hollywood Reporter. May 15, 2024</ref>
On May 19, 2025, OSN has chosen Magnite, the independent sell-side advertising company, to power its new “Advanced TV” advertising solution. This marks the first time OSN will offer addressable advertising across its set-top box (STB) linear broadcast and video-on-demand (VOD) inventory. Using Magnite’s SpringServe video platform, targeted ads will now be delivered to OSN set-top boxes across the MENA region.<ref>{{Cite web|title=OSN partners with Magnite to launch addressable TV advertising|url=https://www.broadcastprome.com/news/osn-partners-with-magnite-to-launch-addressable-tv-advertising/|date=2025-05-19|website=Broadcast Pro ME|language=en|access-date=2025-06-03}}</ref>
In September 2025, Magnite filed a lawsuit against Google over alleged monopolistic and anticompetitive behavior.<ref>{{Cite web |date=2025-09-16 |title=Magnite Becomes Third SSP in Two Months to Sue Google Over Antitrust Allegations |url=https://www.adweek.com/media/magnite-becomes-third-ssp-in-two-months-to-sue-google-over-antitrust-allegations/ |access-date=2025-10-06 |language=en-US}}</ref>
== Mergers and acquisitions ==
===Rubicon Project acquisitions=== In September 2009, the Rubicon Project acquired OthersOnline, an audience profiling technology company based in Seattle.<ref> [https://www.bizjournals.com/seattle/blog/techflash/2009/09/others_online_sells_out.html "Others Online to make ads more relevant with the Rubicon Project"] Puget Sound Business Journal. September 15, 2009</ref>
In May 2010, the company bought Site Scout, a malware detection company also based in Seattle.<ref>{{cite web|title=The Rubicon Project Buys Malware Security Company SiteScout|url=https://techcrunch.com/2010/05/25/the-rubicon-project-buys-malware-security-company-sitescout/|date=May 25, 2010|publisher=TechCrunch}}</ref>
In October 2010, the company acquired Fox Audience Network from News Corp in return for a minority stake in the company.<ref name=":0">{{Cite web |last=Schonfeld |first=Erick |date=2010-11-01 |title=The Rubicon Project Raises Another $18 Million, Completes Fox Audience Network Acquisition |url=https://techcrunch.com/2010/11/01/rubicon-project-18-million-fan/ |access-date=2026-01-08 |website=TechCrunch |language=en-US}}</ref> It also received $18 million in additional funding led by Peacock Equity, the venture division of NBC Universal.<ref name=":0" /><ref>{{Cite web |last=Daily |first=Ad Tech |date=2010-11-01 |title=the Rubicon Project Acquires Fox Audience Network (FAN) for Technology Assets and Team |url=https://adtechdaily.com/2010/11/01/the-rubicon-project-acquires-fox-audience-network-fan-for-technology-assets-and-team/ |access-date=2026-01-08 |website=Ad Tech Daily |language=en-US}}</ref>
In May 2012, Rubicon Project acquired Mobsmith, a mobile technology company.<ref>[https://techcrunch.com/2012/05/23/rubicon-project-acquires-mobsmith/ "Rubicon Project Acquires Mobsmith To Expand Into Mobile Ads"] Techcrunch. May 23, 2012.</ref>
In August 2012, the company became the top-ranked online advertising company in terms of reach, with a 96.2% audience share, according to rankings provided by ComScore. This placed Rubicon ahead of Google for the first time, and also ahead of other competitors such as AOL and AT&T.<ref>{{cite web|last=Thomas |first=Owen |url=http://www.businessinsider.com/a-startup-youve-never-heard-of-just-beat-google-on-one-key-number-2012-8 |title=Rubicon Project Crushes Google On A Key Ad Metric |publisher=Business Insider |date=August 9, 2012 |access-date=September 29, 2012}}</ref>
In October 2019, Rubicon Project acquired RTK.io, a header bidding startup for $11 million.<ref>{{Cite web |last=Only |first=Subscription |date=2019-10-21 |title=Rubicon Project Adds Header Bidding Tools With RTK.io Acquisition |url=https://www.adweek.com/programmatic/rubicon-project-acquires-rtk-io-header-bidding/ |access-date=2026-02-10 |language=en-US}}</ref><ref>{{Cite web |last=Sluis |first=Sarah |date=2019-10-21 |title=Rubicon Project Buys Header Bidding Tech Startup RTK.io For $11 Million |url=https://www.adexchanger.com/platforms/rubicon-project-buys-header-bidding-tech-startup-rtk-io-for-11-million/ |access-date=2026-02-10 |website=AdExchanger |language=en-US}}</ref>
===Merger with Telaria=== In December 2019, Rubicon Project and Telaria announced a merger.<ref>{{Cite web |last=Swant |first=Marty |title=Rubicon Project And Telaria Are Merging To Scale Connected TV Advertising |url=https://www.forbes.com/sites/martyswant/2019/12/19/rubicon-project-and-telaria-are-merging-to-scale-connected-tv-advertising/ |access-date=2021-01-30 |website=Forbes |language=en}}</ref> Shareholders of Telaria and Rubicon project approved the merger on March 30, 2020, and the merger was completed on April 1.<ref name="motley">{{Cite web |last=Sparks |first=Daniel |date=2020-04-01 |title=Rubicon Project and Telaria Combine, Forming the Largest Independent Sell-Side Ad Tech Company |url=https://www.fool.com/investing/2020/04/01/rubicon-project-telaria-combine-forming-largest-in.aspx |access-date=2020-05-13 |website=The Motley Fool |language=en}}</ref>
While the two businesses initially fell under Rubicon Project and operated as two separate brands,<ref name="motley" /> the company rebranded under the name Magnite in June 2020.<ref>{{Cite web |last=Chen |first=I-Chun |date=2020-06-30 |title=Rubicon Project rebrands as Magnite after Telaria merger |url=https://www.bizjournals.com/losangeles/news/2020/06/30/rubicon-rebrands-as-magnite-after-telaria-merger.html |archive-url= |archive-date= |access-date=2020-10-14 |website=Los Angeles Business Journal}}</ref><ref>{{Cite web |title=Rubicon Project and Telaria rebrand as Magnite following merger - AdNews |url=https://www.adnews.com.au/news/rubicon-project-and-telaria-rebrand-as-magnite-following-merger |access-date=2026-01-08 |website=www.adnews.com.au |language=en}}</ref> The merger made Magnite the world's largest independent omnichannel sell-side platform.<ref name="motley" />
=== Recent acquisitions === In February 2021, Magnite acquired SpotX from European entertainment network RTL Group for $1.17 billion in cash and stock.<ref>{{Cite web |date=2021-02-05 |title=Magnite Acquires SpotX For An Eye-Watering $1.17 Billion |url=https://www.adexchanger.com/digital-tv/magnite-acquires-spotx-for-an-eye-watering-1-17-billion/ |access-date=2023-02-02 |website=AdExchanger |language=en-US}}</ref>
In September 2025, Magnite acquired Streamr.ai, a company that specializes in the development of AI-generated assets for small businesses' CTV campaigns.<ref>{{Cite web |last=McNally |first=Victoria |date=2025-09-12 |title=What’s Next for Streamr.ai Now That It’s Been Acquired By Magnite? |url=https://www.adexchanger.com/ctv-roundup/whats-next-for-streamr-ai-now-that-its-been-acquired-by-magnite/ |access-date=2025-11-11 |website=AdExchanger |language=en-US}}</ref><ref>{{Cite web |last= |date=2025-09-09 |title=Magnite acquires streamr.ai |url=https://www.advanced-television.com/2025/09/09/magnite-acquires-streamr-ai/ |access-date=2026-02-10 |language=en-GB}}</ref>
==See also== * Supply-side platform * Real-Time Bidding
==References== {{Reflist|30em}}
Category:Companies based in Los Angeles Category:Online advertising Category:Digital marketing companies of the United States Category:Online advertising services and affiliate networks Category:2014 initial public offerings