Following April’s announcement of Rubicon Project and Telaria’s merger to become the largest independent sell-side advertising platform, Magnite makes it’s official debut today (June 30).
Under the new name, Magnite now combines Rubicon Project’s expertise as a scaled programmatic exchange and Telaria’s leading CTV capabilities to better connect publishers with thousands of buyers and brands.
The company’s omnichannel advertising platform enables publishers to monetise across all auction types and formats including CTV, desktop display, video, audio, and mobile.
“We are excited to have over 600 people across 15 countries come together as Magnite as we start the incredible journey ahead,” 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.”
Magnite’s commitment to community-driven, open solutions will empower publishers to manage their inventory and revenue on their terms. As the company doesn’t own any media interests, it can provide unconflicted guidance to publishers paired with exceptional client service.
In addition, Magnite will provide buyers the opportunity to connect efficiently to global audiences across every channel and format.
“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.”
The company also announced that 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.