PubMatic Readies For IPO; Appoints Steve Pantelick as CFO
Online advertising management firm PubMatic, co-founded by Indians Amar Goel and Rajeev Goel in October 2006, is eying an IPO and has roped in Steve Pantelick as its new chief financial officer. Pantelick's core strength is in readying companies for the stock exchanges.
Based in California, PubMatic also has a centre in Pune (Maharashtra). So far, the company has raised a total of $14.5 million from Helion Venture Partners, Draper Fisher Jurvetson and Nexus Venture Partners. Its key clients include the Huffington Post, eBay, United Online, MSNBC and TV Guide.
PubMatic's sister concern Komli Media is a fast-growing Indian online ad network that also offers an audience measurement service called Vizisense.
"PubMatic is entering an exciting phase in its life which resembles other high-growth companies that I have worked with. My experience in helping innovative companies expand their global footprints and build IPO-ready businesses fits well with what PubMatic is doing as it moves into Europe and Asia, and delivers leading-edge technology to its rapidly expanding group of publishers," said Steve Pantelick, CFO of PubMatic.
PubMatic acquired ReviNet, a US-based advertising optimisation company in May this year. It recently expanded to Europe and launched more data management and mobile products. Its GAAP revenue has risen 33 times in the past two years and by 51 per cent between the second and the third quarter of this fiscal year.
Over the course of the year, PubMatic has made several senior level management changes and hires. In January, it created two new roles â€“ that of Jeanne Houweling as chief revenue officer while Andrew Rutledge became general manager and vice-president of the publisher development. More recently, it roped in Kirk McDonald as its president. McDonald is a former president (digital) for media giant Time Inc.
As CFO of Ofoto/Kodak Gallery, Steve Pantelick was instrumental in scaling up the online digital imaging company. He also took Blockbuster public in 1999 and contributed widely to the DVD rental service provider as the COO of its new media division and senior vice-president of strategic planning & finance, among other roles. Prior to Blockbuster, Pantelick worked at Cadbury Schweppes.
"Pantelick's deep leadership experience with fast-growth companies, both in the USA and in Europe, will help maintain PubMatic's rapid growth trajectory as we expand into new territories, launch new products and services and secure more premium customers," said Rajeev Goel, co-founder and CEO of PubMatic, in a Press release.