Magnite debuts today on the Nasdaq, following the merger between Rubicon Project and Telaria in April 2020 to create what the companies claim is the largest independent sell-side advertising platform.
The merged entity combines Rubicon Project’s expertise as a scaled programmatic exchange with Telaria’s CTV capabilities, according to the parties. Together the companies hope to better connect publishers with thousands of buyers and brands. The new omnichannel advertising platform enables publishers to monetize across all auction types and formats including CTV, desktop display, video, audio, and mobile they say.
The combined business will have over 600 people working in 15 countries said Michael Barrett, President & CEO of Magnite. “Uniting our rich technology, experience, and partnerships under the Magnite brand brings us closer to being an essential partner for publishers and buyers. Now, more than ever, our industry needs an independent alternative to the walled gardens. At Magnite, we believe that collaboration is the path to a thriving ecosystem that works for everyone.”
A Magnite spokesperson said the solution would allow publishers to manage their inventory and revenue on their terms.
The independence of the group is also being pushed as an advantage with the spokesperson saying that as the company doesn’t own any media interests, it can provide unconflicted guidance to publishers paired with exceptional client service.
The ticker symbol on the Nasdaq Global Select Market will change to “MGNI” from “RUBI.” Trading under the new ticker symbol will begin at the open of the market on Wednesday, July 1, 2020. No actions are needed from the company’s current stockholders relative to the ticker symbol change.
Commenting on the deal Bill Murray, Vice President of Programmatic Solutions at Discovery said, “We’ve had great success working with both the Rubicon Project and Telaria teams to monetize our inventory programmatically across CTV, mobile and desktop display. The unification of their technologies as Magnite will bring greater synergy and efficiency to our omnichannel monetization and sales strategies.”
According to Kevin Arrix, Senior Vice President of DISH Media Sales, “Having partnered with Telaria for many years on industry-leading programs, including executing the first live sports programmatic ad offering together, we’re excited to see this spirit of innovation continue at Magnite. We will continue making strides in areas such as addressable CTV in partnership with Magnite to deliver enhanced experiences for our audiences and advertisers.”
Felix Zeng, Head of Programmatic Sales, IBM Watson Advertising meanwhile stressed the importance of publishers and technology partners highlighting the value of programmatic advertising,. “We actively ensure the sell-side has a seat at the table when discussing the future of our industry. As we innovate to serve clients in a cookie-less environment, we welcome Magnite’s partnership for a more transparent, fair and trusted programmatic ecosystem that helps publishers and advertisers transact more effectively.”
Buyers & Brands
“Magnite represents the next evolution of the programmatic marketplace for the open internet,” said Tim Sims, Senior Vice President of Inventory Partnerships at The Trade Desk. “Bringing together the omnichannel capabilities of display and mobile from Rubicon Project combined with Telaria’s success in the ever-growing CTV space, we look forward to working with Magnite to increase scale and value for advertisers and publishers across the supply chain.”