Two years ago Michael Barrett, CEO of what was then Rubicon Project, and the CEO of New York’s Telaria, Mark Zagorski, met to discuss a vision: merge their companies to create the world’s largest independent SSP (Supply Side Platform) in programmatic advertising to match what The Trade Desk (TTD) was doing on the DSP (Demand Side Platform) side of the exchange. And for this new entity, Magnite (MGNI), to ultimately compete with the big walled gardens of Google (GOOG), Facebook (FB) and Comcast’s (CMCSA) FreeWheel (NBCUniversal). Through perseverance, acquisition savvy and expert infrastructure installation, Barrett and Co. have made this vision a reality. And with yesterday’s compelling ER numbers, we’ve arrived at proof-of-concept. Well done Michael Barrett and everyone at Magnite, including the newly arrived teams from SpotX and SpringServe!
Yesterday Magnite closed just shy of a $4B market cap. We are on a glide path to 8X-10X by EOY. Sit back, relax and enjoy the flight!
“Shallow men believe in luck or in circumstances. Strong men believe in cause and effect.” –Ralph Waldo Emerson