Mocean’s existing staff of about 40 employees will join PubMatic and move to its offices in New York and London.
What they do
Mocean, which was formerly known as Mojiva, allows publishers, developers, app stores and brand marketers to serve display ads to all mobile devices. Meanwhile, PubMatic provides a platform that helps publishers manage inventories in real time, combining real-time bidding, unified optimisation and audience insights.
PubMatic states that it acquired Mocean to add mobile ad server capabilities to its existing platform. This will increase PubMatic’s multi-screen capabilities and in managing mobile direct performance.
PubMatic will continue to support Mocean’s existing services, but says investments will be made in product development on mobile platforms. It will also continue to work with Mocean’s publishers and partners, which include mobile ad networks, app stores, 50 publishers, and about 70 third-party mediation partners. This includes brands such as Skype and MSNBC.
In March this year, PubMatic announced its decision to expand its operations in Pune and hire about 100 new employees over a year. Pubmatic had said then that it hopes that the Pune facility would be responsible for delivering all its key technology in a year..
It is also speculated that PubMatic is considering an initial public offering (IPO). A Wall Street Journal report suggested that PubMatic is working with bankers like Credit Suisse Group AG and Citigroup Inc for a potential IPO later this year with a $1 billion valuation.
The company had raised $13 million investment led by Nokia Growth Partners and participation from existing investors August Capital, Draper Fisher Jurvetson, Helion Ventures, and Nexus Venture Partners in 2013. It has raised total investment of $76 million which includes the $7 million investment raised by the combined entity of Komli & PubMatic in January 2008. Note that in 2009, PubMatic had separated from its sister concern Komli Media, which recently ventured into the mobile retargeting space.