A company that helps the likes of Vice, the Economist and talkSport sell online ad space saw revenues soar 90 per cent last year and profitability double, thanks in part to a push to win customers in Europe.
US software company PubMatic’s is on track to make $130 million in revenue this financial year, while co-founder Rajeev Goel said profitability doubled in the year. Goel put the performance down to the company’s focus on publishers rather than advertisers, as well as a shift in the industry. He said: “Advertising is undergoing a transformation in the way its bought and sold. A lot of it is being automated. We give publishers a very sophisticated platform that allows publishers to price package and sell their ad inventory.”
PubMatic’s ad selling software is used by the likes of BuzzFeed and The Independent's parent company, ESI Media.
Goel added: "The UK is one of our fastest growing markets. We've got a number of great partners here."
PubMatic has a 45 person in London that acts as the company’s European hub. Goel said he expects the company’s UK headcount to grow "significantly" this year, adding that PubMatic plans to hire 300 people globally this year.
Goel said the company was always open to acquisitions but would not say whether he was currently looking at any businesses.